A $54,000, four month, 12 note payable was issued on October 1, 2017 Which of the following would be included in the journal entry required on the note 's maturity date by the borrower (Round your answer to the nearest whole number ) a) A credit to Note payable for $56,160 b) A credit to Cash for $54,000 c) A debit to Interest expense for $540 d) A debit to Interest payable for $540

Question: A $54,000, four-month, 12% note payable was issued on October 1, 2017. Which of the following would be included in the journal entry required on

A $54,000, four-month, 12% note payable was issued on October 1, 2017. Which of the following would be included in the journal entry required on the note's date by the borrower? (Round your answer to the nearest whole number.)
a) A credit to Note payable for $56,160
b) A credit to Cash for $54,000
c) A debit to Interest expense for $540
d) A debit to Interest payable for $540?

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