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Business, 30.11.2019 06:31 haleybug6

On november 1, 2018, abc corp. borrowed $100,000 cash on a 1-year, 6% note payable that requires abc to pay both principal and interest on october 31, 2019. the journal entry on november 1, 2018 would include which of the following?
a. credit to cash of $1,000b. credit to interest payable of $1,000c. credit to note payable of $1,000d. debit to interest expense of $6,000

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On november 1, 2018, abc corp. borrowed $100,000 cash on a 1-year, 6% note payable that requires abc...
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