Dawes Pty Ltd Borrowed $10 000 from a Finance Company,promising $\quad$

Short Answer

Dawes Pty Ltd borrowed $10 000 from a finance company,promising to repay the debt in 3 years' time,together with interest at 12% p.a.Dawes Pty Ltd should record this transaction as:
A. DR Cash $\quad$ CR Loan $\quad$ CR Interest payable


B. DR Loan $\quad$ CR Cash

C. DR Cash $\quad$ DR Interest expense $\quad$ CR Loan

D. DR Cash $\quad$ CR Loan