Fifth Third Bank agrees to lend Sheridan Brick Company $500000 on January 1. Sheridan Brick signs a $500000, 5%, 9-month note. The transaction made by Sheridan Brick on January 1 to record the proceeds and issuance of the note will O increase Cash and Notes Payable by $500000. increase an expense by $18750, Cash by $500000, and Notes Payable by $518750. O increase an expense by $18750, Cash by $481250, and Notes Payable by $500000. O increase an expense by $18750, Cash by $500000, Notes Payable by $500000, and Interest Payable by $18750.

FifthThird Bank agrees to lend Sheridan Brick Company $500000 on January 1 . Sheridan Bricksigns a $500000,5%,9-month note. The transaction made by Sheridan Brick on January 1 to record the proceeds and issuance of the note will increase Cash and Notes Payable by $500000