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    Horngrens Accounting Study Set 2
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    Exam 11: Current Liabilities and Payroll
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    Interest Must Be Accrued on All Current Notes Payable
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Interest Must Be Accrued on All Current Notes Payable

Question 62

Question 62

True/False

Interest must be accrued on all current notes payable. For long-term notes the interest is accrued at the maturity of the note.

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