The Journal Entry Recorded by a Company When It Signs

question 1

Multiple Choice

The journal entry recorded by a company when it signs a noninterest-bearing note in exchange for a tract of land would include a:

• A)debit to Discount on Notes Payable
• B)credit to Interest Payable
• C)debit to Notes Payable
• D)credit to Land

---

Definitions:

Intersectionality

A structure that helps comprehend the ways in which elements of an individual's social and political identities intersect to generate various forms of discrimination and advantages.

Race-Based Oppressions

Discriminatory practices and systemic inequalities faced by individuals based on their race or ethnicity.

Class-Based Oppressions

Discrimination and disadvantage that individuals face due to their socioeconomic class.