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12-01-2024
Health

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Which journal entry records the accrual of interest and the amortization of the premium on December 31st?
a) Debit: Interest Expense; Credit: Premium Payable
b) Debit: Premium Payable; Credit: Interest Expense
c) Debit: Interest Expense; Credit: Cash
d) Debit: Cash; Credit: Interest Expense

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