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Nynex Co. signed a three-month, zero-interest-bearing 152,205 note on November 1, 2020 for the purchase of 150,000 of inventory. The adjusting entry made at December
Nynex Co. signed a three-month, zero-interest-bearing 152,205 note on November 1, 2020 for the purchase of 150,000 of inventory. The adjusting entry made at December 31, 2020 will include a a.credit to Note Payable for 735; debit to Interest Expense for 735 b.debit to Note Payable for 735; Credit to Cash for 735 c.debit to Interest Expense for 1,470; Credit to Note Payable for 1,470 d.credit to Interest Expense for 1,470; debit to Note Payable for 1,470.
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