A $54,000, four-month, 12% note payable was issued on October 1, 2018. Which of the following would be included in the journal entry required on the note's maturity date by the borrower? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
A) a credit to Note payable for $56,160
B) a credit to Cash for $54,000
C) a debit to Interest expense for $540
D) a debit to Interest payable for $540
C) a debit to Interest expense for $540
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Answer the following statement true (T) or false (F)
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