On January 1, 2011, you borrowed ($14,000) on a five-year, 9% note payable. At December 31, 2012,
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On January 1, 2011, you borrowed \($14,000\) on a five-year, 9% note payable. At December 31, 2012, you should record:
a. Note receivable of $14,000
b. Cash payment of $14,000
c. Interest payable of $1,260
d. Nothing
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Related Book For 
Financial And Managerial Accounting
ISBN: 9780135080191
2nd Edition
Authors: Charles T Horngren, Jr Walter T Harrison
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