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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
A business makes a payment of $1,400 on a note payable.  Which of the following journal entries would be recorded?
A) Cash is credited and Financing Expense is debited for $1,400.
B) Cash is debited and Financing Revenue is credited for $1,400.
C) Cash is credited and Notes Payable is debited for $1,400.
D) Notes Payable is credited and Cash is debited for $1,400.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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#3
4 years ago
Great! Thanks
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