Multiple Choice
Accrued interest was recorded annually.On December 31,20C,the due date of the note,Bennett paid the amount due and recorded the transaction with which of the following?
A) A debit to notes payable for $400,000.
B) A debit to notes payable for $317,520.
C) A credit to notes payable for $400,000.
D) A credit to notes payable for $317,520.
Correct Answer:
Verified
Correct Answer:
Verified
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