Madison Bank lends Neenah Paper Company $120,000 on January 1, 2017, Neenah signs a $120,000,...
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Madison Bank lends Neenah Paper Company $120,000 on January 1, 2017, Neenah signs a $120,000, 10%, 6-month note. The journal entry made by Neenah on January 1, 2017 will debit O A. Cash for $108,000 and credit Note Payable for $108,000. O B. Interest Expense for $12,000 and credit Interest Payable for $12,000. O C. Cash for $120,000 and credit Notes Payable for $120,000. O D. Interest Expense for $12,000 and credit Cash for $12,000
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