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Multiple choice Question 79 BACK NEXT On October 1, Sam's Painting Service borrows $132000 from National Bank on a 3-month, $132000, 4% note. The payment
Multiple choice Question 79 BACK NEXT On October 1, Sam's Painting Service borrows $132000 from National Bank on a 3-month, $132000, 4% note. The payment of the note and accrued interest on January 1 by Sam's Painting Service includes a(n) O Decrease to Notes Payable for $132000, decrease to Interest Payable for $1320, and a decrease to Cash for $133320 O Decrease to Notes Payable and to Cash for $133320. O Decrease to Notes Payable for $132000, and a decrease to Interest Payable for $5280 and a decrease to Cash for $137280. O Decrease to Notes Payable for $132000, an increase to Interest Expense for $1320 and a decrease to Cash for $133320
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