On December 1,Watson Enterprises Signed a $24,000,60-Day,4% Note Payable as Replacement

question 93

Multiple Choice

On December 1,Watson Enterprises signed a $24,000,60-day,4% note payable as replacement of an account payable with Erikson Company.What is the journal entry that should be recorded upon signing the note?

• A)Debit Accounts Receivable $24,000;credit Notes Receivable $24,000
• B)Debit Accounts Payable $24,000;credit Notes Payable $24,000
• C)Debit Accounts Payable $24,160;credit Notes Payable $24,160
• D)Debit Notes Payable $24,000;debit Interest Expense $160;credit Accounts Payable $24,160
• E)Debit Notes Payable $24,000;debit Interest Expense $160;credit Cash $24,160

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Definitions:

Ideal Group Size

The optimal number of individuals in a group to ensure effective participation, interaction, and achievement of goals.

Closed Groups

Pertains to a fixed membership where no new participants can join once the group has started, often used in therapeutic or educational settings.

Successful Groups

Collections of individuals who achieve their common goals efficiently and effectively through cooperation and cohesive action.

Group Facilitators

Individuals who guide and manage group interactions to ensure effective and smooth group functions and discussions.