Multiple Choice
On November 1,2017,Brownsville Co.borrowed $80,000 from State Bank and signed a 12%,six-month note payable,all due at maturity.The interest on this loan is stated separately.At December 31,2017,the adjustment for this note includes a(n)
A) increase to interest expense for $3,200.
B) increase to notes payable for $1,600.
C) decrease to cash for $4,800.
D) increase to interest payable for $1,600.
Correct Answer:
Verified
Correct Answer:
Verified
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