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Questions 17-19 relate to the following information: ing information. CO The Jones Company borrowed money at the bank on November 1, 2020, in the amount
Questions 17-19 relate to the following information: ing information. CO The Jones Company borrowed money at the bank on November 1, 2020, in the amount of $200,000. They signed a 3 month, 6% notes payable and did pay the note and interest on the maturity date of February 1.2021. 17. In borrowing the money Jones would make an entry which included: A. a debit to cash for $203,000 B. a debit to interest expense for $3,000 C. a credit to cash for $200,000 D. a credit to notes payable for $200,000
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