Use This Information to Answer the Following Question $\$ 25,000$

question 74

Multiple Choice

Use this information to answer the following question. The transactions below pertain to Broyer Company,whose fiscal year ends September 30.
Sept. 10 Received cash for a 90-day, 12 percent, $\$ 25,000$ note payable. Interest is in adclition to the face value.
30 Made end-of-year adjusting entry to accrue interest expense.
The entry to record the September 10 transaction (amounts rounded) is:

• A) Cash 740
• Notes Payable 740
• B) Cash 24,260
• Accounts receivable 24,260
• C) Cash 24,260
• Notes Payable 24,260
• D) Cash 25,000
• Notes Payable 25,000

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Definitions:

Bystander Effect

A social psychological phenomenon where individuals are less likely to offer help to a victim when other people are present, often due to a diffusion of responsibility.

Emergency Situation

An unexpected and often dangerous situation that requires immediate action.

Antisocial Peer Group

A group of peers engaged in behaviors that are against societal norms and laws, often leading to negative influences.

Criminal Behavior

The engagement in actions that violate laws and are punishable by the state or other authority.