Use This Information to Answer the Following Question

question 46

Multiple Choice

Use this information to answer the following question. The transactions below pertain to Bolivar Company,whose fiscal year ends September 30.
The entry to record the September 10 transaction (amounts rounded) is:

• A) Cash 1,480 Notes Payable 1,480
• B) Cash 48,520 Accounts receivable 48,520
• C) Cash 48,520 Notes Payable 48,520
• D) Cash 50,000 Notes Payable 50,000

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Definitions:

Cocaine

A powerful stimulant drug derived from the coca plant that can cause euphoria and addiction.

Withdrawal

Symptoms that occur after abrupt discontinuation or decrease in intake of substances that have been used regularly.

Paranoia

A thought process heavily influenced by anxiety or fear, often to the point of irrationality and delusion, typically involving persecutory beliefs.

Psychoactive Drugs

Substances that, when taken, alter brain function, resulting in temporary changes in perception, mood, consciousness, and behavior.