Business, 18.11.2020 17:10 lovebug3563
Moss County Bank agrees to lend the Crane Company $515000 on January 1. Crane Company signs a $515000, 6%, 9-month note. What entry will Crane Company make to pay off the note and interest at maturity assuming that interest has been accrued to September 30?
A-
Notes Payable515000
Interest Payable23175
Cash 538175
B-
Interest Payable15450
Notes Payable515000
Interest Expense7725
Cash 538175
C-
Notes Payable538175
Cash 538175
D-
Interest Expense23175
Notes Payable515000
Cash 538175
Answers: 2
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Moss County Bank agrees to lend the Crane Company $515000 on January 1. Crane Company signs a $51500...
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