On May 22, Jarrett Company borrows $7,700, signing a 90 day, 8 , $7,700 note What is the journal entry made by Jarrett Company to record the payment of the note on the maturity date Multiple Choice O O Debit Notes Payable $7,700 credit Interest Expense $154 credit Cash $7,546 Debit Notes Payable $7,700 credit Cash $7,700 Debit Notes Payable $7,854 credit Cash $7,854 Debit Notes Payable $7,700 debit Interest Expense $154 credit Cash $7,854 Debit Cash $7,854, credit Interest Revenue $154 credit Notes Receivable $7,700 On May 22, Jarrett Company borrows $7,700, signing a 90 day, 8 ,$7,700 note What is the journal entry made by Jarrett Company to record the payment of the note on the maturity date Multiple Choice Debit Notes Payable $7 700 credit Interest Expense $154, credit Cash $7,546 Debit Notes Payable $7,700 credit Cosh $7,700 Debit Notes Payable $7,854 credit Cash $7,854 Debit Notes Payable $7,700, debit interest Expense $154 credit Cosh $7,854 Debit Cash $7,854, credit Interest Revenue $154, credit Notes Receivable $7,700

Question

On May 22, Jarrett Company borrows $7,700, signing a 90 day, 8 , $7,700 note  What is the journal entry made by Jarrett Company to record the payment of the note on the maturity date  Multiple Choice O O Debit Notes Payable $7,700  credit Interest Expense $154  credit Cash $7,546  Debit Notes Payable $7,700  credit Cash $7,700  Debit Notes Payable $7,854  credit Cash $7,854  Debit Notes Payable $7,700  debit Interest Expense $154  credit Cash $7,854  Debit Cash $7,854, credit Interest Revenue $154  credit Notes Receivable $7,700  On May 22, Jarrett Company borrows $7,700, signing a 90  day, 8 ,$7,700 note  What is the journal entry made by Jarrett Company to record the payment of the note on the maturity date  Multiple Choice Debit Notes Payable  $7 700  credit Interest Expense  $154, credit Cash  $7,546  Debit Notes Payable  $7,700  credit Cosh $7,700 Debit Notes Payable  $7,854  credit Cash  $7,854  Debit Notes Payable  $7,700, debit interest Expense  $154  credit Cosh  $7,854  Debit Cash  $7,854, credit Interest Revenue  $154, credit Notes Receivable $7,700

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On May 22, Jarrett Company borrows $7,700, signing a 90-day, 8%, $7,700 note. What is the journal entry made by Jarrett Company to record the

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