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Martin & Associates Borrowed $15,000 on April 1, 2016 at 8

Question 29

Multiple Choice

Martin & Associates borrowed $15,000 on April 1, 2016 at 8% interest with both principal and interest due on March 31, 2017.Which of the following journal entries should the firm use to record the payment of interest on March 31, 2017?


A)
Martin & Associates borrowed $15,000 on April 1, 2016 at 8% interest with both principal and interest due on March 31, 2017.Which of the following journal entries should the firm use to record the payment of interest on March 31, 2017? A) B) C) D)
B)
Martin & Associates borrowed $15,000 on April 1, 2016 at 8% interest with both principal and interest due on March 31, 2017.Which of the following journal entries should the firm use to record the payment of interest on March 31, 2017? A) B) C) D)
C)
Martin & Associates borrowed $15,000 on April 1, 2016 at 8% interest with both principal and interest due on March 31, 2017.Which of the following journal entries should the firm use to record the payment of interest on March 31, 2017? A) B) C) D)
D) Martin & Associates borrowed $15,000 on April 1, 2016 at 8% interest with both principal and interest due on March 31, 2017.Which of the following journal entries should the firm use to record the payment of interest on March 31, 2017? A) B) C) D)

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