On November 1,Greenfield Corporation Borrowed $55,000 from a Bank and Signed

question 91

Multiple Choice

On November 1,Greenfield Corporation borrowed $55,000 from a bank and signed a 12%,90-day note payable in the amount of $55,000.If you assume 360 days in year,the November 30 adjustment will

• A)increase interest expense by $550 and decrease cash by $550.
• B)increase discount on notes payable by $1,100 and increase interest payable by $1,100.
• C)increase interest expense by $550 and increase interest payable by $550.
• D)increase interest expense by $550 and increase notes payable by $550.

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Definitions:

Biological Clocks

Internal mechanisms in organisms that control the timing of biological functions and behaviors, helping to adapt to the day-night cycle.

Hormone

Chemical substances produced in the body that regulate and control the activity of certain cells or organs.

Circadian Rhythm

The internal body clock that regulates the 24-hour cycle of biological processes, including sleep-wake patterns.

Exposure To Light

The condition of being subjected to light, which can affect various biological processes, including sleep cycles and mood.