A business repays the amount borrowed on a note with cash. Which of the following accounts is credited?
A) Accounts Payable
B) Cash
C) Notes Payable
D) Notes Receivable
B
You might also like to view...
Principal is
A. the amount of interest accumulated on a bond. B. the amount of dividends paid each year on a stock. C. the original amount invested in a security. D. the time until a borrowed fund is repaid.
Why is it important to understand the communication context in any communication situation?
a. so you can let the context shape your message b. so you can change the context to better suit your purposes c. so you can tell others how they should change the context to better suit your purposes d. All of the above
The statement of cash flows summarizes the operating, investing, and financing activities of a business for a period of time
a. True b. False Indicate whether the statement is true or false
Which of the following information should be included in management's documentation regarding intangible assets?
a. Manner of acquisition. b. Basis for the capitalized amount c. Expected period of benefit. d. All the above should be included.