What entry to record accrued interest on note september

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Question 1: Jill Hamlin borrowed $10,000 from the bank on August 31, issuing the bank a 12% note due on November 30. The entry to record accrued interest on the note on September 30 (the end of the first month after the note was made) would include:

Option a. debit Interest Expense for $295.89

Option b. debit Interest Payable for $295.89

Option c. debit Interest Expense for $98.63

Option d. debit Interest Payable for $98.63

Reference no: EM132494480

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