The entry made by Givens Brick Company on January 1 to record the proceeds and issuance of the note is Question 32 options: Interest Expense 18,000 Cash 282,000 Note Payable 300,000 Cash 300,000 Note Payable 300,000 Interest Expense 18,000 Cash 300,000 Note Payable 318,000 Interest Expense 18,000 Cash 300,000 Note Payable 300,000 Interest Payable 18,000
Admire County Bank agrees to lend Givens Brick Company $300,000 on January 1. Givens Brick Company signs a $300,000, 8%, 9-month note. The entry made by Givens Brick Company on January 1 to record the proceeds and issuance of the note is
Question 32 options:
|
|
Interest Expense 18,000 Cash 282,000 Note Payable 300,000 |
|
|
Cash 300,000 Note Payable 300,000 |
|
|
Interest Expense 18,000 Cash 300,000 Note Payable 318,000 |
|
|
Interest Expense 18,000 Cash 300,000 Note Payable 300,000 Interest Payable 18,000 |
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 3 images
