Multiple Choice
On October 1,2019,ABC Company loaned A.Jenkins $13,000 at an annual interest rate of 3% with a maturity date of April 1,2020.On October 1,2019,ABC Company will record ________.
A) no entry since the note is due on April 1, 2020
B) a debit to Notes Receivable - A. Jenkins of $13,390
C) a credit to Notes Payable - A. Jenkins of $13,000
D) a debit to Notes Receivable - A. Jenkins of $13,000
Correct Answer:
Verified
Correct Answer:
Verified
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