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Greenco signed a 5-year note payable on January 1, 2018, of $375,000. The note requires annual principal payments each December 31 of $75,000 plus interest
Greenco signed a 5-year note payable on January 1, 2018, of $375,000. The note requires annual principal payments each December 31 of $75,000 plus interest at 14%. The entry to record the annual payment on December 31, 2022, includes O A. a credit to Cash of $127,500. O B. a debit to Interest Expense for $10,500. C, a credit to Notes Payable for $75,000 O D. a debit to Interest Expense for $52,500
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