On August 9, Alice Paid $3,568 to Cyrus Corp

question 115

Multiple Choice

On August 9, Alice paid $3,568 to Cyrus Corp. to fulfill her promissory note agreement. Of the $3,568, $400 is interest. The journal entry Cyrus Corp. will record is to:

• A)debit Cash, $3,568; credit Note Receivable/Alice, $3,568.
• B)debit Cash, $3,568; credit Note Receivable/Alice, $3,168; credit Interest Revenue, $400.
• C)debit Note Receivable/Alice, $3,568; credit Cash $3,168; credit Interest Revenue, $400.
• D)debit Note Receivable/Alice, $3,568; credit Cash $3,568.

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Definitions:

Informational Power

Power derived from possessing knowledge or information that others find useful or valuable.

Skills And Abilities

The competences and capabilities that enable an individual to perform tasks or activities effectively.

Facts And Data

Objective pieces of information that are proven to be true and can be quantified or verified.

Social Power

The ability of an individual or group to influence or control the actions, beliefs, or behaviors of others within a social context.