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When interest is accrued on a notes payable, but not paid, the: Multiple Choice Interest...

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Accounting

When interest is accrued on a notes payable, but not paid, the:
Multiple Choice
Interest Expense account is increased; the Interest Payable account is decreased.
Notes Payable account is increased; the Interest Payable account is increased.
Interest Expense account is decreased; the Interest Payable account is increased.
Interest Expense account is increased; the Interest Payable account is increased
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