Which of the following is the journal entry to record a periodic payment on an installment note?
Question:
Which of the following is the journal entry to record a periodic payment on an installment note?
a. Debit Notes Payable;
credit Cash
b. Debit Interest Expense;
credit Cash
c. Debit Interest Expense; debit Notes Payable; credit Cash
d. Debit Interest Expense; credit Notes Payable; credit Cash
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c The journal entry to recor...View the full answer
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Related Book For 
Financial And Managerial Accounting
ISBN: 9781337902663
15th Edition
Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler
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