On November 1, 2014, Chancellor Co borrowed $80,000 from State Bank and signed a 12%, six-month note payable, all due at maturity. The interest on this loan is stated separately. At December 31, 2014, the adjusting entry for this note includes a:
a. Debit to Interest Expense for $3,200.
b. Credit to Notes Payable for $1,600.
c. Credit to Cash for $4,800.
d. Credit to Interest Payable for $1,600.
d
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Indicate whether the statement is true or false
Which of the following is true about Social Security as a benefits program?
A. It is entirely free from federal tax. B. It is the only plan that requires no employee to meet any eligibility criteria. C. It does not cover unemployment insurance. D. It covers mostly railroad and federal, state, and local government employees. E. It does not require minimum earnings to be fully insured.
Normalized design would place client's work, home, and cell phone numbers in a separate table
together with the ClientID. Indicate whether the statement is true or false
Waste on the production line will result in an unfavorable materials price variance.
Answer the following statement true (T) or false (F)