Question: During 2020, Amalin Co, issued 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, issued 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% Nov 27, 2020 If December 31 is the fiscal year end, the journal entry to record the payment of Note A, at due date, will include (round up your calculations to 2 decimals) 45 days O A. A credit to Cash, for $26,500 OB. A credit to Interest payable-ST Note A for $63.71 OC. A debit to ST Note payable A for $$26,410.45 OD. A debit to Interest expense for $7.08
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