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Business, 10.10.2020 19:01 chippicharleschinnu

Chopper Company paid Keith Company for merchandise with a $24,000, 60-day, 9% note dated April 1. If Chopper Company pays the note at maturity, what entry should Keith make at that time? A) Cash 26,160 Interest income 2,160 Notes receivable 24,000 B) Notes payable 24,000 Interest expense 2,160 Cash 26,160 C) Cash 24,360 Interest income 360 Notes receivable 24,000 D) Notes payable 23,640 Interest expense 360 Cash 24,000

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Chopper Company paid Keith Company for merchandise with a $24,000, 60-day, 9% note dated April 1. If...
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