#25

#25

5 On January 1 Yeart Stratton Company bowed $120,000 na 10 years tamente payable The t required general pural entry to record the payment on the nor on December 21 Year 2 is found to 1 Mungle Chute O DE $5.500 de No P4394 Debt es Pyle 600 de Exp $8.394, Ca $4 Debo 184 De rest Expense $8.537, No Pepe $947 ce Cash 4 MEDS Debe Notes Pet $00.000 debt Expense $5. ce C Enabled: Exam 1 Chapters 13 & 14 (Do Not Open Until You Are Rea i On January 1, Year 1, Stratton Company borrowed $120,000 on a 10-year, 8% installment note payable required general journal entry to record the payment on the note on December 31, Year 2 is (round to Multiple Choice O Debit Interest Expense $9,600, debit Notes Payable $8,284, credit Cash $17,884. Debit Notes Payable $9,600, debit Interest Expense $8,284; credit Cash $17,884 Debit Interest Expense $8,937; debit Notes Payable $8,947; credit Cash $17,884. Debit Notes Payable $17,884, credit Cash $17,884. Debit Notes Payable $120,000; debit Interest Expense $5,884, credit Cash $17,884.