The Journal Entry a Company Uses to Record the Payment

question 138

Multiple Choice

The journal entry a company uses 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

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Definitions:

Lively Curiosity

An eager interest or enthusiasm to learn and explore.

Critical-Thinking Attitude

An approach that involves objective analysis and evaluation of an issue to form a judgment.

Caring Attitude

An approach that embodies compassion, concern, and consideration for others, showing support and understanding in a healthcare context.

Client's Crying

An emotional response or manifestation of feelings of distress, sadness, or joy in a therapeutic or caregiving environment.