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On October 1, 2018, you borrow $200,000 at 6% interest and record the promissory note. You agree to make semi-annual interest payments. On December 31,
On October 1, 2018, you borrow $200,000 at 6% interest and record the promissory note. You agree to make semi-annual interest payments. On December 31, 2018, your journal entry for the quarter should: Question 2 options: debit Interest Expense for $6,000 and credit Cash for $6,000. debit Cash for $3,000 and credit Accrued Interest for $3,000. debit Interest Expense for $3,000 and credit Interest Payable for $3,000. debit Interest Expense for $6,000 and credit Notes Payable for $6,000
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