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On December 31,2010,Malcolm Corporation Accrued Interest on a $10,000 Note

question 61

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On December 31,2010,Malcolm Corporation accrued interest on a $10,000 note payable that it had issued on March 1,2010.The note was a 1-year note with interest at 6%.How did the year-end accrual of interest affect Malcolm's financial statements? On December 31,2010,Malcolm Corporation accrued interest on a $10,000 note payable that it had issued on March 1,2010.The note was a 1-year note with interest at 6%.How did the year-end accrual of interest affect Malcolm's financial statements?   A)  Choice A B)  Choice B C)  Choice C D)  Choice D

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