On October 1, 2018, Mills Company borrowed $131,000 cash on a one-year note that required Mills to pay 5 percent interest and $131,000 principal, both on September 30, 2019. Assuming the note is paid when due in 2019, what is the debit to interest expense when recording the payment of the note?

the amount that debited to interest expense is $4,912.50

Explanation:

The computation of the amount that debited to interest expense is as follows:

Here we calculate it from Jan to Sep 30, the number of months would be 9 months

So, the amount of interest expense is

= $131,000 × 5% × 9 months ÷ 12 months

= $4,912.50

Hence, the amount that debited to interest expense is $4,912.50

explanation:

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the correct answer option is b. a single paragraph.

explanation:

when you are thinking about paragraph​ topics, you should always choose a subject that can be adequately addressed in a single paragraph.

a paragraph is a piece of writing consisting of a few sentences that deal with a single theme. it has only a single idea that the paragraph revolves around and talks about.

so a paragraph topic must be chosen wisely where a single idea can be communicated in a single paragraph.