On October 1, Sam's Painting Service Borrows $100,000 from National

question 300

Multiple Choice

On October 1, Sam's Painting Service borrows $100,000 from National Bank on a 3-month, $100,000, 4% note. What entry must Sam's Painting Service make on December 31 before financial statements are prepared?

• A) Interest Payable 1,000 Interest Expense 1,000
• B) Interest Expense 4,000 Interest Payable 4,000
• C) Interest Expense 1,000 Interest Payable 1,000
• D) Interest Expense 1,000 Notes Payable 1,000

---

Definitions:

X Chromosomes

One of the two types of sex chromosomes, X and Y, that determine the genetic sex of an organism; X chromosomes carry a significant number of genes unrelated to sex.

Ovarian Failure

A condition in which the ovaries stop functioning before age 40, leading to a loss of regular menstrual cycles and infertility.

Turner Syndrome

A chromosomal disorder affecting females, characterized by the partial or complete loss of one of the two X chromosomes.

Color-Blind Recessive Allele

A genetic variant that must be inherited from both parents to express a color-blind condition, as it is recessive.