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Concord Corporation borrows $16000 at 7% annual interest for six months on October 1st, 2017. Which is the appropriate entry to accrue interest if Baden employs a December 31st, 2017, fiscal year?Interest Expense $280Interest Payable $280Interest Expense $1120Interest Payable $1120Interest Expense $280Notes Payable $280Notes Payable $1120Interest Payable $1120

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