The payment on a note is recorded, by the maker or payer, as a A. debit,...
The payment on a note is recorded, by the maker or payer, as a
A. debit, Cash; credit, Notes Payable; credit, Interest Expense.
B. debit, Cash; credit, Notes Receivable; credit, Interest Income.
C. debit, Notes Receivable; debit, Interest Income; credit, Cash.
D. debit, Notes Payable; debit, Interest Expense; credit, Cash.
Homework Answers
Option D is the answer
| Notes payable | Debit | |
| Interest expense | Debit | |
| Cash | Credit |
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The payment on a note is recorded, by the maker or payer, as
a
A. debit,...
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