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On October 1, 2019, Sara Company issued a $60,000, 5%, nine-month interest-bearing note. Assuming interest was accrued in June 30, 2020, the entry to record
On October 1, 2019, Sara Company issued a $60,000, 5%, nine-month interest-bearing note. Assuming interest was accrued in June 30, 2020, the entry to record the payment of the note on July 1, 2020, will include Select one: O debit to interest Expense of $750. debit to interest Payable of $2,250. O debit to Notes Payable of $62,250. O credit to Cash of $60,000
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