Question: O n May 1 , 2 0 2 5 , Ivanhoe Company signed a one - year, zero - interest bearing note for $ 4

On May 1,2025, Ivanhoe Company signed a one-year, zero-interest bearing note for $49300 and received cash of $42600 from
the Virginia State Bank. The May 1 journal entry to record this transaction will include
a debit to Cash for $42600.
a credit to Notes Payable for $42600.
a credit to Discount on Notes Payable for $6700.
a debit to Interest Expense for $6700.
O n May 1 , 2 0 2 5 , Ivanhoe Company signed a

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