Question: On April 1 , 2 0 2 2 , Aggie Company borrowed $ 2 4 0 , 0 0 0 on a bank note fir

On April 1,2022, Aggie Company borrowed $240,000 on a bank note fir 14 months. The bank discounted the note at 4%. The entry to record the payment of this note on October 31,2022 would include a:
A. Debit to interest expense for $9,600
B. Credit ti cash fir $228,800
C. Debit to interest payable for $11,200
D. Credit to note payable for $240,000
E. Credit to discount for $11,200
On April 1 , 2 0 2 2 , Aggie Company borrowed $ 2

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