The journal entry a company uses to record the payment of a discounted note is
A) debit Notes Payable and Interest Expense; credit Cash
B) debit Notes Payable; credit Cash
C) debit Cash; credit Notes Payable
D) debit Accounts Payable; credit Cash
B
You might also like to view...
A ____________ is a division or department that generates monetary returns for the organization.
A. data processing center B. collection center C. cost center D. revenue center E. management center
A plan for initiating a viral marketing campaign to specific customers is called a(n) ________.
A. PR campaign B. seeding strategy C. dark web D. viral marketing strategy E. diffusion process
The following is the adjusted trial balance as of December 31, 2016 of Aims Photography:
Account Debit Credit Cash $1,700 Accounts Receivable 8,500 Supplies 100 Equipment 7,500 Accumulated Depreciation—Equipment $2,000 Accounts Payable 1 What will be an ideal response
Conflicts between two mutually exclusive projects occasionally occur, where the NPV method ranks one project higher but the IRR method puts the other one first. In theory, such conflicts should be resolved in favor of the project with the higher NPV.
Answer the following statement true (T) or false (F)