On October 1,Pinnacle Co

question 36

Multiple Choice

On October 1,Pinnacle Co.signs a note for $360,000 to provide the funds needed to build a new facility.The note is due in 10 years,includes an annual interest rate at 7%,and requires semiannual interest payments each April and October.The journal entry to record the issuance of the promissory note should debit:

• A)Notes Payable for $360,000,debit Interest Expense for $25,200,credit Cash for $360,000,and credit Interest Payable for $25,200.
• B)Accrued Interest and credit Cash for $25,200.
• C)Cash and credit Notes Payable for $360,000.
• D)Cash for $360,000,debit Interest Expense for $25,200,credit Notes Payable for $360,000,and credit Interest Payable $25,200.

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Definitions:

Intrasender Role Conflict

A situation where conflicting expectations or messages are sent by the same person, leading to confusion or conflict in the role receiver's actions or decisions.

Role Set

The array of roles and associated behaviors performed by an individual in a particular social or professional context.

Incompatible Messages

Communications that contradict each other or cannot coexist due to differing aims or elements.

Meta Conflict

A conflict that arises over the way in which conflicts are managed or resolved, rather than the original issue itself.