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On January 1, 2018, a business borrowed $10,000 on a five-year, 5% note payable. At December 31, 2018, the business should record O A. interest
On January 1, 2018, a business borrowed $10,000 on a five-year, 5% note payable. At December 31, 2018, the business should record O A. interest payable of $500. OB. note receivable of $10,000. O C. cash payment of $10,000. OD. nothing. (The note is already on the books.)
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