A Business Makes a Payment of $1,200 on a Note

question 56

Multiple Choice

A business makes a payment of $1,200 on a note payable, consisting of a $200 interest payment and a $1,000 principal payment. Which of the following journal entries would be recorded?

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Definitions:

Socially Disapproved

Actions or behaviors that are generally condemned or regarded negatively by society.

Behaviors

The way a person or group behaves or responds when faced with outside or inside forces.

Socialization

The process by which individuals learn and internalize the values, beliefs, and norms of their society, becoming functioning members of that society.

Human Personality

The combination of emotional, attitudinal, and behavioral response patterns of an individual, distinguishing one person from another.