Multiple Choice Question 90 Sheridan Company signed a three-month, zero-interest-bearing note on November 1, 2017 for the purchase of $497000 of inventory. The face value of the note was $509000. Assuming that the discount will be amortized equally over the 3-month period and that there was no adjusting entry made for November, the adjusting entry made at December 31, 2017 will include a debit to Interest Expense for $8000. debit to Discount on Note Payable for $4000. credit to Discount on Note Payable for $4000. credit to Interest Expense for $8000.

Multiple Choice Question 90 Sheridan Company signed a three-month, zero-interest-bearing note on November 1, 2017 for the purchase of $497000 of inventory. The face value of the note was $509000. Assuming that the discount will be amortized equally over the 3-month period and that there was no adjusting entry made for November, the adjusting entry made at December 31, 2017 will include a O debit to Interest Expense for $ 8000. O debit to Discount on Note Payable for $ 4000. O credit to Discount on Note Payable for $ 4000. o credit to Interest Expense for $ 8000. Click if you would like to Show Work for this question: Open Show Work