Question: During 2020, Amalin Co. accepted two short-term notes payable, with the following details: Principal Interst rate Note outstanding Note issuance date NOTEA $26,500 3.25% 30
During 2020, Amalin Co. accepted two short-term notes payable, with the following details: Principal Interst rate Note outstanding Note issuance date NOTEA $26,500 3.25% 30 days Dec 05 2020 NOTEB $15,800 6.75% 45 days Nov 27, 2020 The jouranl entry to record the payment of Note A, at due date, will include (round up your calculations to 2 decimals): O A. A credit to Cash, for $26,500 O B. A credit to Interest payable-ST Note A for $63.71 OC. A debit to Interest expense for $7.08 OD. A debit to ST Note payable A for $$26,410.45
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