Question 17 8 points Save Answer On November 1, 2019, Pop's Burgers signed a $900,000, 3%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2020. Pop's Burgers should record which of the following adjusting entries at December 31, 2019? Interest Expense $4,500 Cash $4,500 , $2,250 Interest Expense Interest Payable OB $2,250 $4,500 Interest Expense Interest Payable OC. $4,500 $2,250 Interest Payable Cash OD $2,250 Question 18 8 points Save Answer On November 1, 2019, Pop's Burgers signed a $900,000, 396, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2020. The appropriate adjusting entry was recorded on Dec 31. On May 1, 2020 what is the appropriate journal entry for the repayment of the note payable? Note Payable Interest Expense A. Interest Payable Cash $930,000 $11,250 $2,250 $913,500 Note Payable Interest Expense B. Interest Payable Cash $900,000 $9,000 $4,500 $913,500 Note Payable $900,000 Interest Expense $9,000 Interest Payable Cash OC $4,500 $904,500 Note Payable Interest Expense OD Cash $900,000 $13,500 S913,500 Question 19 What is the current ratio for a company with the following information: Account Amount $70,000 Cash Accounts receivable $82,000 Inventory $115,000 Buildings $65,000 Accounts payable $71.000 Current portion of long-term debt $27,000 Long-term debt $140,000 3.39 OA O B.2.72 O C.3.76 OD. 1.39 Question 20 Working capital is defined as: All assets available for sale after long term debt is paid off. OA OB. The assets that the company keeps for more than one year. OC. The current assets divided by current liabilities. OD The current assets remaining after paying current liabilities. A Nina