Help me selecting the right answer. Thank you On October 1, 2025, Bella, Inc. took out a cash loan for $50,000 by signing a six-month, 8% note payable. The journal entry for Bella when the note is issuedwould be:Notes PayableCashOCashAccounts PayableMerchandise InventoryNotes PayableCashNotes Payable50,00050,00050,00050,00050,00050,00050,00050,000

Loan has been taken out in cash. So cash (asset) has increased. Loan is a liability that has…

On October 1, 2025, Bella, Inc. took out a cash loan for $50,000 by signing a six-month, 8% note payable. The journal entry for Bella when the note is issued would be: O Notes Payable Cash O Cash ооо Accounts Payable O Merchandise Inventory Notes Payable O Cash Notes Payable 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000

On October 1, 2025, Bella, Inc. took out a cash loan for $50,000 by signing a six-month, 8% note payable. The journal entry for Bella when the note is issued would be: O Notes Payable Cash O Cash ооо Accounts Payable O Merchandise Inventory Notes Payable O Cash Notes Payable 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter14: Long-term Liabilities: Bonds And Notes

Section: Chapter Questions

Problem 11E

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