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Moss County Bank agrees to lend the Blossom Company $665000 on January 1. Blossom Company signs a $665000,6%, 9.month note. What entry will Blossom Company
Moss County Bank agrees to lend the Blossom Company $665000 on January 1. Blossom Company signs a $665000,6%, 9.month note. What entry will Blossom Company make to pay off the note and interest at maturity assuming that interest has been accrued to September 30 Interest Payable Notes Payable Interest Expense Cash 19950 665000 9975 694925 O Interest Expense Notes Payable Cash 29925 665000 694925 Notes Payable Cash 694925 694925 Notes Payable Interest Payable Cash 665000 29925 694925
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