Question: The journal entry to pay off a 6 month note payable issued on October 1, 2019, where the correct adjusting journal entry was recorded on

The journal entry to pay off a 6 month note payable issued on October 1, 2019, where the correct adjusting journal entry was recorded on December 31, and due on April 1, 2020 would include a:

  • A. Credit to notes payable
  • B. Debit to interest payable
  • C. Credit to interest expense
  • D. Debit to cash

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!