Cannon Ltd bought display racks with a fair market value of $150,000. The corporation signed a 3 year interest bearing note at 8%. The entry to record the transaction would include Multiple Choice A credit to Notes Payable for $39,692 A debt to interest Expense for $12,000 A dobit to Notes Payable for $150.000 Acredit to Notes Payable for $150,000 Acredit to interest Payable for $400