TULO 1, Angelica Inc signs a note for $200,000 to provide the funds needed to build a new facility. The note is due in 10 years, includes an annual interest rate at 7%, and requires semiarvual interest payments each April and October. The Journal entry to record the l ine of the promissory note should debit Notes Payable for $200,000, debit interest Expense for $14,000. Credit Cash for $200,000, and credit interest Payable for $14.000. B. Cash and credit Notes Payable for $200,000 C. None of the above. Cash for $200,000, debit Interest Expense for $14,000, credit Notes Payable for $200,000, and credit interest Payable $14.000 E Accrued Interest and credit Cash for $14.000 QUESTION 11 3.33334 Advantages of the corporate form include all of the following except: A legal liability of its owners is unlimited. Bownership interests are transferable c. None of the above. Shares can be purchased in small amounts E easy to raise capital. Which of the following is an advantage of debt financing? None of the above OA B. It does not have to be repaid. c Interest is discretionary Interest is tax deductible Ett reduces stockholder control QUESTION 13 3.333 All of the following are a part of contributed capital except A Preferred Stock None of the above. c. Retained Earnings D. Common Stock Additional Paid-in Capital