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Greenco signed a 9-year note payable on January 1, 2024, of $540,000. The note requires annual principal payments each December 31 of $60,000 plus interest
Greenco signed a 9-year note payable on January 1, 2024, of $540,000. The note requires annual principal payments each December 31 of $60,000 plus interest at 12% The entry to record the annual payment on December 31, 2028, includes K O A. a debit to Interest Expense for $64,800 O B. a credit to Notes Payable for $60,000 O C. a credit to Cash of $124,800 O D. a debit to Interest Expense for $36,000
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