uestion 5 of 18 -13 ew Policies urrent Attempt in Progress On October...

60.1K

Verified Solution

Question

Accounting

uestion 5 of 18
-13
ew Policies
urrent Attempt in Progress
On October 1, Blossom Painting Service borrows $164000 from National Bank on a 3-month, $164000,3% note. The entry by Blossom Painting Service to record payment of the note and accrued interest on January 1 is
Notes Payable
165230
Cash
165230
Notes Payable
164000
Interest Payable
1230
Cash
165230
Notes Payable
164000
Interest Expense
1230
Cash
165230
Notes Payable
164000
Interest Payable
4920
Cash
168920
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students