The Journal Entry to Record the Issuance of a Note

question 62

Multiple Choice

The journal entry to record the issuance of a note for the purpose of borrowing funds is:

• A) debit Accounts Payable; credit Notes Payable.
• B) debit Cash; credit Notes Payable.
• C) debit Notes Payable; credit Cash.
• D) debit Cash and Interest Expense; credit Notes Payable.

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Definitions:

Multiply Effectiveness

The process of enhancing the efficiency and impact of actions or strategies, resulting in multiplied outcomes.

Develop Charisma

The process of enhancing one's personal appeal or influence over others, often through improving communication skills, empathy, and confidence.

Personal Risk

The exposure of an individual to potential harm or loss in personal or professional contexts.

Walking the Talk

This denotes the act of backing up words with action, ensuring that one’s behaviors consistently match their spoken commitments.