Multiple Choice
The journal entry required on the company's books to record the note payable on July 1, 20X0 would include which of the following?
A) A credit to notes payable for $12,000.
B) A credit to notes payable for $12,960.
C) A debit to cash for $11,040.
D) A debit to interest expense for $960.
Correct Answer:
Verified
Correct Answer:
Verified
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