Company a and Company B Each Borrow $2,000 from the Bank

question 15

Multiple Choice

Company A and Company B each borrow $2,000 from the bank. Company A signed a 60-day, 12% note. Company B signed a 90-day, 11% note. How will each of these companies record these events in their respective general journals on the day the money was borrowed?

• A) Company A
• \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 2,000 & \\
• \hline \text { Notes Payable } & & 2,000 \\
• \hline
• \end{array}\) Company B
• \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 2,000 & \\
• \hline \text { Notes Payable } & & 2,000 \\
• \hline
• \end{array}\) 00 Notes Payableompany record this event in the general journal?
• B) Company A
• \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 2,040 & \\
• \hline \text { Interest Expense } & & 40 \\
• \hline \text { Notes Payable } & & 2,000 \\
• \hline
• \end{array}\) Company B
• \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 2,055 & \\
• \hline \text { Interest Expense } & & 55 \\
• \hline \text { Notes Payable } & & 2,000 \\
• \hline
• \end{array}\)
• C) Company A
• \(\begin{array}{|c|r|r|}
• \hline \text { Notes Payable } & 2,000 & \\
• \hline \text { Cash } & & 2,000 \\
• \hline
• \end{array}\) Company B
• \(\begin{array}{|c|r|r|}
• \hline \text { Notes Payable } & 2,000 & \\
• \hline \text { Cash } & & 2,000 \\
• \hline
• \end{array}\)
• D) Company A
• \(\begin{array}{|l|r|l|}
• \hline \text { Interest Expense } & 40 & \\
• \hline \text { Notes Payable } & 2,000 & \\
• \hline \text { Cash } & & 2,040 \\
• \hline
• \end{array}\) Company B
• \(\begin{array}{|l|r|r|}
• \hline \text { Interest Expense } & 55 & \\
• \hline \text { Notes Payable } & 2,000 & \\
• \hline \text { Cash } & & 2,055 \\
• \hline
• \end{array}\)
• E) . Company A
• \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 2,040 & \\
• \hline \text { Notes Payable } & & 2,040 \\
• \hline
• \end{array}\) Company B
• \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 2,055 & \\
• \hline \text { Notes Payable } & & 2,055 \\
• \hline
• \end{array}\)

Discuss the countercurrent mechanism's role in urine concentration and maintaining the medullary gradient.

Recognize the physiological importance of sodium, potassium, and hydrogen ion transport in the kidney.

Explain how the kidney contributes to acid-base balance.

Understand the role of the vasa recta in maintaining the concentration gradient in the renal medulla.