The Jones Company borrowed money at the bank on November 1, 2020, in the amount of $200,000. They signed a 3 month, 6% notes payable and did pay the note and interest on the maturity date of February 1, 2021. 17. In borrowing the money Jones would make an entry which included: 

A. a debit to cash for $203,000 

B. a debit to interest expense for $3,000 

C. a credit to cash for $200,000 

D. a credit to notes payable for $200,000

Answer rating: 100% (QA)

Answer D A Credit to NotesPa... View the full answer