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On October 1, 2017, Sally's Painting Service borrows $150,000 from National Bank on a 6-month,...

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Accounting

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On October 1, 2017, Sally's Painting Service borrows $150,000 from National Bank on a 6-month, $600,000, 4% note. Sally's Painting Service's December 31, 2017 financial statements includes O 1) Interest Expense of $6,000 and total liabilities of $156,000 O 2) Interest Expense of $12,000 and total liabilities of $162,000. O 3) Interest Expense of $24,000 and total liabilities of $174,000 4) Interest Expense of $3,000 and total liabilities of $153,000

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