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  3. on january 1, 2018, a business borrowed $12,000 on

On January 1, 2018, a business borrowed $12,000 on a five-year, 7% note payable. At...

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Accounting

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On January 1, 2018, a business borrowed $12,000 on a five-year, 7% note payable. At December 31, 2018, the business should record O A. OB. C. interest payable of $840. cash payment of $12,000. note receivable of $12,000 D. nothing. (The note is already on the books.)

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