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6 February, 19:25

The adjusting entry to record accrued interest on a note payable requires a debit to

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  1. 6 February, 19:53
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    The adjusting entry to record accrued interest on a note payable requires a debit to Interest Expenses and a credit to Interest Payable. Interest payable is an ongoing duty account that is used to report the amount of interest that has been obtaining but has not yet been paid as of the date of the balance sheet.
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