Business, 11.12.2019 23:31 leommarcoantonio

Explain show work 16. on november 1, alan company signed a 120-day, 8% note payable, with a face value of $9,000. alan made the appropriate year-end accrual. what is the journal entry as of march 1 to record the payment of the note assuming no reversing entry was made? (use 360 days a year.)

a. debit notes payable $9,240; credit interest payable $120; credit interest expense $120; credit cash $9,000.
b. debit notes payable $9,000; debit interest payable $120; credit cash $9,120.
c. debit notes payable $9,000; debit interest expense $240; credit cash $9,240.
d. debit notes payable $9,000; debit interest payable $120; debit interest expense $120; credit cash $9,240.
e. debit cash $9,240; credit notes payable $9,240.

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Explain show work 16. on november 1, alan company signed a 120-day, 8% note payable, with a face val...

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