Travis County Bank Agrees to Lend Brickyard Corporation $200,000 on January

question 221

Multiple Choice

Travis County Bank agrees to lend Brickyard Corporation $200,000 on January 1.Brickyard signs a $200,000, 4%, 9-month note.Interest is due at maturity on September 30.The company's fiscal year ends June 30 and adjusting entries are recorded at that time only.
-Use the information above to answer the following question.What journal entry will Brickyard make when paying the note at maturity?

• A) Debit Cash and credit Notes Payable for $200,000
• B) Debit Cash and credit Notes Payable for $206,000
• C) Debit Notes Payable and credit Cash for $206,000
• D) Debit Notes Payable and credit Cash for $200,000

Learn about the objectives and benefits of customer relationship management programs.

Identify different consumer concerns and risks when making purchase decisions.

Understand the influence of personal and environmental factors on consumer attitudes and purchase behavior.

Appreciate how cultural and social influences affect consumer decisions and behaviors.

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Definitions:

Independent

A term often used to describe a variable that is not influenced by other variables in the context of statistical analysis or experimental design.

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Card Draw

A procedure in games or experiments where cards are selected from a deck, sometimes randomly, to determine outcomes or decisions.

Mayoral Election

The electoral process by which a city or town selects its mayor.