不 OA. debit Interest Expense and credit Cash for $800 OB. debit Interest Payable and credit Interest Expense for $800 OC. debit Interest Expense and credit Interest Payable for $800 OD. debit Interest Payable and credit Cash for $800 Wisconsin Bank lends Local Furniture Company $80,000 on November 1. Local Furniture Company signs a $80,000, 6%, 4-month note. The fiscal year end of Local Furniture Company is December 31. The journal entry made by Local Furniture Company on December 31 is:
不 OA. debit Interest Expense and credit Cash for $800 OB. debit Interest Payable and credit Interest Expense for $800 OC. debit Interest Expense and credit Interest Payable for $800 OD. debit Interest Payable and credit Cash for $800 Wisconsin Bank lends Local Furniture Company $80,000 on November 1. Local Furniture Company signs a $80,000, 6%, 4-month note. The fiscal year end of Local Furniture Company is December 31. The journal entry made by Local Furniture Company on December 31 is:
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter17: Accounting For Notes And Interest
Section: Chapter Questions
Problem 8SEB: JOURNAL ENTRIES (NOTE ISSUED FOR BANK LOAN) Prepare general journal entries for the following...
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