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Calculator Martinez Co. borrowed $68,400 on March 1 of the current year by signing a 60-day, 12%, interest-bearing note. Assuming a 360-day year, when the
Calculator Martinez Co. borrowed $68,400 on March 1 of the current year by signing a 60-day, 12%, interest-bearing note. Assuming a 360-day year, when the note is paid on April 30, the entry to record the payment should include a ______ . Round your answer to the nearest whole dollar. a. debit to Interest Payable for $1,368 b. debit to Interest Expense for $1,368 c. credit to Cash for $68,400 d. credit to Cash for $76,608
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