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On January 1, Year 1, Pasta Disasta, Inc., issued a $400,000,11%, 4-year installment note. On December 31, Year 2, Pasta Disasta made its second annual
On January 1, Year 1, Pasta Disasta, Inc., issued a $400,000,11%, 4-year installment note. On December 31, Year 2, Pasta Disasta made its second annual installment payment of $163,686. The journal entry to record the second installment payment includes: Round to the nearest whole dollar. Cash Interest Expense Notes Payable A. credit $44,000 B. credit $132,851 C. debit $163,686 D. debit $30,835 E. credit $119,686 F. debit $132,851 G. credit $163,686 H. debit $44,000 I. credit $30,835
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