On the First Day of January, Patricia Borrowed $2,000 on a One-Year

question 65

Multiple Choice

On the first day of January, Patricia borrowed $2,000 on a one-year note payable bearing interest at 4% per year. The note specifies that principal and interest must be paid in full at the end of the one-year period. On June 30, the adjusted trial balance will show Interest Payable of:

• A)$40 credit.
• B)$40 debit.
• C)$80 credit.
• D)$80 debit.

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Definitions:

Vaginal Intercourse

A sexual activity involving the insertion of the penis into the vagina.

Gay-Straight Alliance

A student-led or community-based organization, typically in a high school or college setting, that is intended to provide a safe and supportive environment for LGBTQ+ people and their allies.

Well-Being

Being in a state where one experiences comfort, healthiness, or happiness.

Racial

Pertaining to race, which encompasses classifications of humans based on physical and genetic characteristics.