7. The entry by Ken's Painting Service to record payment of the note and accrued interest...

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7. The entry by Ken's Painting Service to record payment of the note and accrued interest on January 1st is a. Notes Payable....... Cash....... b. Notes Payable....... Interest Payable.. Cash........ c. Notes Payable.. Interest Payable....... Cash...... d. Notes Payable...... Interest Expense. Cash...... A) a B) b C) c D) d 51,000 51,000 50,000 1,000 51,000 50,000 3,000 - 53,000 50,000 1,000 51,000 I 7. The entry by Ken's Painting Service to record payment of the note and accrued interest on January 1st is a. Notes Payable....... Cash....... b. Notes Payable....... Interest Payable.. Cash........ c. Notes Payable.. Interest Payable....... Cash...... d. Notes Payable...... Interest Expense. Cash...... A) a B) b C) c D) d 51,000 51,000 50,000 1,000 51,000 50,000 3,000 - 53,000 50,000 1,000 51,000 I