BB previously purchased inventory from L. Wong for $15,000. On 1 October gave Wong a 60-day, bill of exchange to cover the amount of the account payable plus interest at 9% p.a. What is the correct accounting entry in BB's books to record the issue of the bill?

Group of answer choices

a. Debit accounts payable $15,000; credit bills payable $15,000

b. Debit bills payable $15,332.87; credit accounts payable $15,332.87

c. Debit bills payable $15,000; debit unexpired interest $332.87; credit accounts payable $15,332.87

d. Debit accounts payable $15,000; debit unexpired interest $332.87; credit bills payable $15,332.87

Answer rating: 100% (QA)

the correct accounting entry in BBs books to record the issue ... View the full answer