Business, 19.01.2021 19:40 cheaterman1616

On November 1, 2019, Bob's Burgers signed a $300,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2020. The appropriate adjusting entry was recorded on Dec 31. On May 1, 2020 while recording the journal entry for the repayment Bob's Burgers will have the following for interest payable and interest expense: Note Payable $300,000
Interest Expense $6,000
Interest Payable $3,000
Cash $309,000
Note Payable $300,000
Interest Expense $6,000
A. Interest Payable $3.000
Cash $303,000
Cash
B. $300,000 $7,500 $1,500
C. Note Payable Interest Expense Interest Payable Cash Note Payable Interest Expense Cash $309,000 $300,000 $9.000
D. Cash $309,000 Bond D 8% 99%

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On November 1, 2019, Bob's Burgers signed a $300,000, 6%, six-month note payable with the amount bor...

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