The Journal Entry Used to Record the Payment of a Discounted

question 8

Multiple Choice

The journal entry used to record the payment of a discounted note is

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

---

Definitions:

Ethical Challenge

A situation or decision that involves conflicting moral values or principles, often requiring a choice that impacts one's conduct.

Reframing

Involves changing the perspective or context through which a situation or concept is viewed, often to gain a new understanding or solve a problem.

Black Lives Matter

A decentralized movement advocating for non-violent civil disobedience in protest against incidents of police brutality and all racially motivated violence against Black people.

Ethical Challenge

A situation where an individual or organization faces a decision requiring moral judgment, often between profit and societal good.