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Question 15 2 pts What would be the journal entry to make the full payment on a notes payable for a piece of equipment costing
Question 15 2 pts What would be the journal entry to make the full payment on a notes payable for a piece of equipment costing $10,000 and was purchased on a 60 day notes payable discounted at 6%? Debit NP $10,000 and Debit Interest expense $100; Credit Cash $10,100 Debit NP $10,000; Credit Cash $10,000 Debit Cash $10,100; Credit NP $10,000 and credit Interest expense $100 Debit Cash $10,000; Credit NP $10,000 Question 16 2 pts What would be the amount of interest expense on a $10,000 notes payable for 120 days at 5% interest? O $169.33 O $171.25 0 $148.67 O $166.67 Question 17 2 pts Which of the following is included in the cost of constructing a building? O interest on money borrowed to finance the construction while being built cost of paving parking lot cost of repairing vandalism damage during construction Cost of removing an old building existing on the land when it was purchased
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