The entry to record the issuance of a check in settlement of an interest-bearing promissory note...

 

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The entry to record the issuance of a check in settlement of an interest-bearing promissory note of $4,000 and interest of $100, would be to Multiple Choice O debit Notes Payable $4300 and credit Cash $4300 debit Cash $4,300, credis Notes Payable $4,000 and credit Interest Expense $100. debe interest Expense 5100, debit Notes Payable $4.000 and credit Cash $4100 debe Accounts Payable $4,000, debit Interest Expense $100 and credit Cash $4,300 The entry to record the issuance of a check in settlement of an interest-bearing promissory note of $4,000 and interest of $100, would be to Multiple Choice O debit Notes Payable $4300 and credit Cash $4300 debit Cash $4,300, credit Notes Payable $4,000 and credit Interest Expense $100. debe interest Expense 5100, debit Notes Payable $4.000 and credit Cash $4100 debe Accounts Payable $4,000, debit Interest Expense $100 and credit Cash $4,300 The entry to record the issuance of a check in settlement of an interest-bearing promissory note of $4,000 and interest of $100, would be to Multiple Choice O debit Notes Payable $4300 and credit Cash $4300 debit Cash $4,300, credis Notes Payable $4,000 and credit Interest Expense $100. debe interest Expense 5100, debit Notes Payable $4.000 and credit Cash $4100 debe Accounts Payable $4,000, debit Interest Expense $100 and credit Cash $4,300 The entry to record the issuance of a check in settlement of an interest-bearing promissory note of $4,000 and interest of $100, would be to Multiple Choice O debit Notes Payable $4300 and credit Cash $4300 debit Cash $4,300, credit Notes Payable $4,000 and credit Interest Expense $100. debe interest Expense 5100, debit Notes Payable $4.000 and credit Cash $4100 debe Accounts Payable $4,000, debit Interest Expense $100 and credit Cash $4,300

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