Question
On March 1, Cents, Inc. lent $1,000 to an employee at a rate of 6% for 3 months. The entry to record the loan of
On March 1, Cents, Inc. lent $1,000 to an employee at a rate of 6% for 3 months. The entry to record the loan of $1,000 to its employee includes a:
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debit to Cash of $1,000.
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credit to Notes Receivable of $1,000.
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debit to Interest Revenue of $15.
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credit to Interest Revenue of $15.
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credit to Cash of $1,000.
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Auditing a business risk appraoch
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
6th Edition
9780324645095, 324645090, 978-0324375589
