Which of the following accounts are used when a short term note payable with 5% interest is
Question:
Which of the following accounts are used when a short term note payable with 5% interest is honored (paid)?
A. Short-term notes payable, cash
B. Short-term notes payable, cash, interest expense
C. Interest expense, cash
D. Short-term notes payable, interest expense, interest payable
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The journal entry to record the payment of short term note payable with interes...View the full answer
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Marvine mabiya
i am a graduate of kirinyaga university degree of statistics
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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