What journal entry would record the first payment

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Question: On December 31, 2019, Ciba Corporation borrowed $85,000 by signing a 4-year, 12% installment note requiring semi-annual payments. The market rate is 12%. What journal entry would record the first payment on December 31, 2020? Group of answer choicesBond Interest Expense 9,350 Bond Payable 9,350 Bond Interest Expense 5,100 Bond Payable 5,100 Bond Interest Expense 5,100 Cash 5,100 Bond Interest Expense 4,675 Cash 4,675 Cash 10,200 Bond Interest Expense 10,200

Reference no: EM133538402

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