On January 1, 2014, you borrowed $15,000 on a five-year, 9% note payable. At December 31, 2014,

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On January 1, 2014, you borrowed $15,000 on a five-year, 9% note payable. At December 31, 2014, you should record a journal entry that includes which of the following?

a. Note Payable of $15,000

b. Nothing; the note has already been recorded

c. Interest Payable of $1,350

d. Cash receipt of $15,000 AppendixLO1

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