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Mountain Bank lends Bristlecone Company $150,000 on August 1. Bristlecone Company signs a $150,000, 6%, 8-month note. The fiscal year end of Pistachio Company is
Mountain Bank lends Bristlecone Company $150,000 on August 1. Bristlecone Company signs a $150,000, 6%, 8-month note. The fiscal year end of Pistachio Company is December 31. The journal entry made by Bristlecone Company at the maturity of the note includes: (Round final calculations to the nearest dollar.) a credit to Cash of $150,000. a credit to Notes Payable of $150,000 a debit to Interest Expense of $2,250. a credit to Interest Payable of $3,750
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