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:

Progressive Thrust

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The ability to accomplish a task or job with the minimum expenditure of time and effort.

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Any number of instruments or medications designed to prevent pregnancy as part of family planning.