The Journal Entry Used to Record the Issuance of a Discounted

question 32

Multiple Choice

The journal entry used to record the issuance of a discounted note for the purpose of borrowing funds for the business is

• A) debit Cash and Interest Expense; credit Notes Payable
• B) debit Cash and Interest Payable; credit Notes Payable
• C) debit Accounts Payable; credit Notes Payable
• D) debit Notes Payable; credit Cash

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Definitions:

Porter's Five Forces

A framework for analyzing the competitive forces within an industry, including competition, potential entrants, substitute products, bargaining power of suppliers, and bargaining power of customers.

WAN

A Wide Area Network is a telecom network that spans a vast geographic area, mainly designed for connecting computers.

LAN

A Local Area Network is a computer network that interconnects computers within a limited area such as a residence, school, laboratory, or office building.

MAN

A Metropolitan Area Network; a network that spans a physical area larger than a LAN but smaller than a WAN, used to connect users in a geographic region.