On April 12, Hong Company agrees to accept a 60 day, 8:55.700 note from Indigo Company to extend the due date on an overdue account. What is the journal entry that Indigo Company would make when it records payment of the note on the maturity date? (Use 360 days a year) Multiple Choice 2 Debt Nos Payabile 55.700 binterest Expense 576 Credit Cash $5.776 Debit No Pay $5.700 dobit interest Expected 5. Debit Notes Payable $5700 credits per credit Cat 55.624 Dubah 5.776.createst in Credit Notes R$700 The total amount of cash and other assets received by a corporation from its stockholders in exchange for its stock is: Multiple Choice 48 Always equal to its stated value Referred to as retained earnings Referred to as paid in capital Always below its stated value Always equal to its par value