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Home Q & A Board Other Fields Homework Help Business Accounting
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harra harra
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6 years ago
A business making a monthly mortgage payment that included $1,200 principal and $300 interest should be recorded as:
A)
Mortgage payable   1,200   
Interest payable   300   
        Cash      1,500

B)
Mortgage payable   1,500   
        Cash      1,500

C)
Cash   1,500   
        Mortgage payable      1,500

D)
Mortgage payable   1,200   
Interest expense   300   
        Cash      1,500
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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KryzenKryzen
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6 years ago
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harra Author
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#2
6 years ago
Great answer
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