dmitry racoff borrowed 960 from the bank, issuing the bank a $1000 promissory note due in 120 days. assuming that the note issued and paid in the same accounting period, Racoff's entry on the date of payment will include a

A)debit to noted payable for $960

B) debit to interest expense for $40

C) credit to cash for 960

d) debit to discount on notes payable for $40