The journal entry used to record the payment of a discounted note is A debit Notes Payable and Interest Expense; credit Cash B debit Cash; credit Notes Payable C debit Accounts Payable;credit Cash D debit Notes Payable;credit Cash

Question

The journal entry used to record the payment of a discounted note is A debit Notes Payable and Interest Expense; credit Cash B debit Cash; credit Notes Payable C debit Accounts Payable;credit Cash D debit Notes Payable;credit Cash

Answer 1

The correct journal entry to record the payment of a discounted note is:A) Debit Notes Payable and Interest Expense; credit CashThis entry reflects the reduction of the liability (Notes Payable) and the recognition of the interest expense incurred, with a corresponding decrease in cash.

Problemas

The journal entry used to record the payment of a discounted note is A debit Notes Payable and Interest Expense; credit Cash B debit Cash; credit Notes Payable C debit Accounts Payable;credit Cash D debit Notes Payable;credit Cash

Roztwór

Respuesta