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On 1 March 2020, Buzz Enterprise agreed with one of its creditors to extend the credit period for an outstanding amount of $40,000 with a

On 1 March 2020, Buzz Enterprise agreed with one of its creditors to extend the credit period for an outstanding amount of $40,000 with a 90-days 10% per annum trade bill. What is Buzz Enterprise's journal entry to record the settlement of the trade bill? Group of answer choices Debit bills payable $40,000, debit interest expense $4,000, credit bank $44,000 Debit bills payable $44,000, credit bank $44,000

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