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U Question 6 Citi Bank lends Sierra Nevada Company $200,000 on October 1. Sierra Nevada Company signs a $200,000,7%,5 month note. The fiscal year end
U Question 6 Citi Bank lends Sierra Nevada Company $200,000 on October 1. Sierra Nevada Company signs a $200,000,7%,5 month note. The fiscal year end of Sierra Nevada Company is December 31. The journal entry made by Sierra Nevada Company on December 31 includes: (Round final calculations to the nearest dollar.) A) a credit to Interest Payable of $5,833. a debit Interest Expense of $14,000. a credit to Interest Payable of $3,500. a credit to Interest Payable of $5,833. a credit to Cash of $5,833
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