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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%? O Debit NP $10,000 and Debit Interest expense $100: Credit Cash $10,100 O 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? $169.33 $171.25 $148.67 O $166.67
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