Business, 17.01.2020 01:31 macylen3900

Jones borrowed $960 from the bank, issuing a 12.5%, 4-month promissory note. assuming that the note is issued and paid in the same accounting period, jones’ entry on the date of payment will include a a. debit to notes payable for $960. b. debit to interest payable for $40. c. credit to cash for $960. d. debit to interest receivable for $40

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Jones borrowed $960 from the bank, issuing a 12.5%, 4-month promissory note. assuming that the note...

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