The Entry to Record the Initial Borrowing of Cash by Issuing

question 98

Multiple Choice

The entry to record the initial borrowing of cash by issuing a promissory note will include a debit to ________ and a credit to ________.

• A)Cash;Notes Payable
• B)Notes Payable;Cash
• C)Interest Expense;Cash
• D)Cash;Interest Expense

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Definitions:

Diaspora

Diaspora refers to the dispersion of any people from their original homeland to multiple locations around the world, often maintaining cultural or social connections with their place of origin.

Grand Settlement of 1701

A historical agreement, also known as the Great Peace of Montreal, between New France and 39 First Nations of North America.

Presidio

A fortified base established by the Spanish in colonial times, primarily in the Americas, to protect territories and missions from foreign encroachments and native uprisings.

Yamasee War

A conflict between British settlers of South Carolina and various Native American tribes, including the Yamasee, during 1715-1717.