On October 1,a $30,000,6%,3-Year Installment Note Payable Is Issued by a Company.The

question 13

Multiple Choice

On October 1,a $30,000,6%,3-year installment note payable is issued by a company.The note requires that $10,000 of principal plus accrued interest be paid at the end of each year on September 30.The issuer's journal entry to record the second annual interest payment would include:

• A)A debit to Interest Expense for $1,800
• B)A debit to Interest Expense for $1,200
• C)A credit to Cash for $11,800
• D)A credit to Cash for $10,000
• E)A debit to Notes Payable for $1,200

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Definitions:

Montagnards

A political group during the French Revolution, seated on the highest benches of the assembly, known for their radical views and support for extreme measures including the reign of terror.

Free Public Education

The provision of education that is government-funded and available to all individuals without charge.

Higher Wages

Increased monetary compensation for labor, reflecting an elevation in the standard rate paid to workers, often sought after in negotiations between employers and employees or labor unions.

Great Britain

A sovereign country in northwestern Europe, comprising England, Scotland, and Wales, known for its influential role in global politics, economy, and culture.