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Xia Company purchased supplies for $42,000 on credit on January 1, 2019. On January 15,...

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Accounting

Xia Company purchased supplies for $42,000 on credit on January 1, 2019. On January 15, the company made a cash payment of $12,000 to the supplier, and signed a one-year note for the remaining amount to settle the account. Xia Companys journal entry on January 15 will include:

Select one:

A. Debit Notes Payable for $30,000 B. Debit Cash for $30,000 C. Credit Accounts Payable for $30,000 D. Credit Notes Payable for $30,000

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