The effect on the accounts and the financial statements

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Reference no: EM13791701

The effect on the accounts and the financial statements of the payment of an ordinary note is:

A. decrease in Notes Payable, an increase in Interest Receivable, and a decrease in cash.

B. decrease in Notes Payable, and increase in Interest Expense, and a decrease in cash

C. decrease in Accounts Payable and a decrease in Cash

D. increase in Cash and an increase in Notes Payable

Reference no: EM13791701

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