Question: On January 1 , 2 0 2 5 , a business borrowed $ 1 9 , 0 0 0 on a five - year, 7

On January 1,2025, a business borrowed $19,000 on a five-year, 7% notes payable. At December 31,2025, the business should record
A. interest payable of $1,330.
B. cash payment of $19,000.
C. notes receivable of $19,000.
D. nothing. (The note is already on the books.)
On January 1 , 2 0 2 5 , a business borrowed $ 1

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