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Hello, can someone please help me with this question. I am on my break from work and i wanted to study before i go back to work. Thank you so much.
Martinez Co. borrowed $50,400 on March 1 of the current year by signing a 60-day, 8%, interest-bearing note. Assuming a 360-day year, when the note is paid on April 30, the entry to record the payment should include a ______ .
Round your answer to the nearest whole dollar.
a.debit to Interest Payable for $672
b.debit to Interest Expense for $672
c.credit to Cash for $50,400
d.credit to Cash for $54,432
Which of the following is the most desirable quick ratio?
a.1.95
b.1.80
c.2.20
d.1.50
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