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On 1 June 2022 McIntyre Ltd issued a three-month, $30 000 bill payable to Northgate...

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Accounting

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On 1 June 2022 McIntyre Ltd issued a three-month, $30 000 bill payable to Northgate Savings in order to borrow $28 000. If the bill payable is still outstanding at 30 June 2022, the end of the financial year, which of the following will be reported on McIntyre Ltd's financial statements concerning the bill? Interest expense: Yes; Discount on bills: Yes; Bills payable: Yes. Interest expense: No; Discount on bills: No; Bills payable: No. Interest expense: Yes; Discount on bills: No; Bills payable: No. Interest expense: No; Discount on bills: Yes; Bills payable: Yes

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