Brian Inc Borrowed $8,000 from First Bank and Signed a Promissory

question 41

Multiple Choice

Brian Inc. borrowed $8,000 from First Bank and signed a promissory note. What entry should Brian Inc. record?

• A) Debit Cash, $8,000; Credit Notes Receivable, $8,000.
• B) Debit Notes Receivable, $8,000; Credit Cash, $8,000.
• C) Debit Cash, $8,000; Credit Notes Payable, $8,000.
• D) Debit Notes Payable, $8,000; Credit Cash, $8,000.

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Definitions:

Biodiversity

The assortment of all living organisms across different habitats, from terrestrial to aquatic environments, emphasizing the importance of ecological balance.

Successional Species

Successional species are plants and animals that colonize an ecosystem following a disturbance, playing a crucial role in ecological succession towards a stable climax community.

Intermittent Fire

A phenomenon involving fires occurring at irregular intervals, not continuous or steady.

Forest

A large area covered chiefly with trees and undergrowth.