Dr. Ninez obtained a bank loan for an office building for $150,000. The monthly loan interest is $130.00 and the cash loan payment is $1200. How would the interest and bank loan payment be recorded? Account Number Description Debit Credit Interest Bank Loan 

a. The interest and payment would be a debit. 

b. The interest and payment would be a credit. 

c. The interest would be credit and the payment would be a debit. 

d. The interest would be a debit and the payment would be a credit

Answer rating: 100% (QA)

The detailed answer for the above question is provided below The correct answer is c The interest wo... View the full answer