Brian Inc. borrowed $8,000 from First Bank and signed a promissory note. What entry should Brian Inc. record?
A. Debit Notes Receivable, $8,000; Credit Cash, $8,000.
B. Debit Notes Payable, $8,000; Credit Cash, $8,000.
C. Debit Cash, $8,000; Credit Notes Payable, $8,000.
D. Debit Cash, $8,000; Credit Notes Receivable, $8,000.
Answer: C
You might also like to view...
Persons who grew up in ______ generations may experience more difficulty understanding each other than people who grew up in the ______ generation.
Fill in the blank(s) with the appropriate word(s).
It’s important to remember that community building is about building relationships over time. When you’re getting started with measuring the ROI of your community building efforts, we recommend you track your progress ____________ rather than weekly.
A. Quarterly B. Hourly C. Daily D. Yearly
Strategic renewal and the pursuit of new venture opportunities are the two primary aims of corporate entrepreneurship.
Answer the following statement true (T) or false (F)
Knoll Manufacturing lends its supplier $170,000 for 3 years at a 8% annual interest rate. Interest payments are to be made twice a year. Each interest payment will be for:
A. $20,400. B. $40,800. C. $13,600. D. $6800.