Teams call D in Browser V Download Save to OneDrive Homework-Chapter 2 Le Accessibility Mode PI MULTIPLE CHOICE C. a. c. Enter the letter corresponding to the response that best completes each of the following statements or questions. 1. The journal entry to record the borrowing of cash and the signing of a note payable involves: a. A debit to note payable and a credit to cash. b. Debits to cash and interest expense and a credit to note payable. A debit to cash and a credit to note payable. d. All of these answer choices are incorrect. -2. Which of the following is most likely an accrued liability? Depreciation b. Interest. Cost of goods sold. d. Office supplies. 3. A prepaid expense is an expense: Incurred before the cash is paid. b. Incurred and paid. Paid but not yet incurred. d. All of these answer choices are incorrect. -4. The Esquire Clothing Company borrowed a sum of cash on October 1, 2018, and signed a note payable. The annual interest rate was 12% and the company's year 2018 income statement reported interest expense of S1,260 related to this note. What was the amount borrowed? a $22.000 b. S31.500 $10.500 d. $42.000 a C. c. 5. Which of the following adjusting entries causes a decrease in assets? a. Recognizing the portion of revenue collected in advance. The beginning of the Academ. FR10/15 Dur Dearest Students, Hope this email f... OCT 31 tv A 0