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On November 1. Alan Company signed a 120 day, 10% note payable, with a face value of $15,000. Alan made the appropriate year-end accrual. What
On November 1. Alan Company signed a 120 day, 10% note payable, with a face value of $15,000. Alan made the appropriate year-end accrual. What is the journal entry as of March 1 to record the payment of the note assuming no reversing entry was made? (Use 360 days a year.) Moe Choice Debit Notes Payable $15,000; debt interest Payable $250;cred Cash $15.250 Debt Notes Payable $15,000, debit Interest Payable $250, debit interest Expense $250, credit Cash $15,500 Debit Cash $15.250.credit Notes Payable $15.250. Doba Notes Paynble $15.500 credit interest Payable $250, credit interest Expense $250, credit Cash $15,000 Debit Notes Payable $15,000, debit interest Expense $500, Credit Cash $15,500.
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