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