Question
On March 1, 2023, Sean David borrows money from Thrift Bank to expand his business. A $15,000, six-month, 6% note payable is issued. The journal
On March 1, 2023, Sean David borrows money from Thrift Bank to expand his business. A $15,000, six-month, 6% note payable is issued. The journal entry to record the payment on August 31, 2023, includes: Select one:
a. Debit to Notes Payable for $15,450
b. Credit to Cash for $15,000
c. Credit to Interest Expense for $450
d. Debit to Interest Expense for $450
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Principles of Auditing and Other Assurance Services
Authors: Ray Whittington, Kurt Pany
19th edition
978-0077804770, 78025613, 77804775, 978-0078025617
