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On January 1, Avers Co. borrowed $10,000 by extending their past-due account payable with a a 60-day, 8% Interest-bearing note. On March 1, the
On January 1, Avers Co. borrowed $10,000 by extending their past-due account payable with a a 60-day, 8% Interest-bearing note. On March 1, the due date. Avers pays the amount due in full. This entry would be recorded by Avers with a debit to (Accounts Payable/Notes Payable/Cash) O Cash: $10,000 O Notes Payable: $10,800 O Cash: $10,800 O Notes Payable; $10,133) O Notes Payable; $10,000 O Cash; $10,133 in the amount of
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