On October 1 Sam's Painting Service Borrows $150000 from National

question 142

Multiple Choice

On October 1 Sam's Painting Service borrows $150000 from National Bank on a 3-month $150000 4% note.The payment of the note and accrued interest on January 1 by Sam's Painting Service includes a(n)

• A)Decrease to Notes Payable and to Cash for $151500.
• B)Decrease to Notes Payable for $150000 decrease to Interest Payable for $1500 and a decrease to Cash for $151500.
• C)Decrease to Notes Payable for $150000 and a decrease to Interest Payable for $6000 and a decrease to Cash for $156000.
• D)Decrease to Notes Payable for $150000 an increase to Interest Expense for $1500 and a decrease to Cash for $151500.

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Definitions:

Self-Enhancement

The motive or tendency to view oneself in a favorable light and to seek positive feedback from others.

Self-Verification

A theory proposing that people seek to confirm their self-concept by preferring feedback and situations that are congruent with their existing beliefs about themselves.

Self-Esteem

An individual's subjective evaluation of their own worthiness and personal value.

Fear of Death

An emotional state characterized by anxiety or dread associated with the awareness of mortality and the inevitable process of dying.