Business, 26.09.2019 06:30 taminazaka1

Martinez co. borrowed $50,000 on march 1 of the current year by signing a 60-day, 9%, interest-bearing note. assuming a 360-day year, when the note is paid on april 30, the entry to record the payment should include a
a. debit to interest payable for $750
b. credit to cash for $54,500
c. credit to cash for $50,000
d. debit to interest expense for $750

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Martinez co. borrowed $50,000 on march 1 of the current year by signing a 60-day, 9%, interest-beari...

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