On the First Day of January,Harris Company Borrowed $3,000 on a One-Year

question 50

Multiple Choice

On the first day of January,Harris Company borrowed $3,000 on a one-year note payable bearing interest at 5% per year.The note specifies that principal and interest must be paid in full at the end of the one-year period.On June 30,the adjusted trial balance will show Interest Payable of ________.

• A)$75 credit
• B)$75 debit
• C)$150 credit
• D)$150 debit

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Definitions:

Constructive Processing

The active process of creating meaningful interpretations and understandings of experience through integrating new information with existing knowledge.

Reintegration

Involves the process of integrating someone back into society or a specific community, often after a period of isolation, imprisonment, or treatment.

Consolidation

The process by which memories become stable in the brain, transitioning from a short-term to a long-term state.

Ebbinghaus

Hermann Ebbinghaus was a German psychologist known for his pioneering work on memory and learning, including the discovery of the forgetting curve.