On 1 May 2019, Bric-A-Brac Purchased a Building for $400

question 47

Multiple Choice

On 1 May 2019, Bric-A-Brac purchased a building for $400 000, paying $100 000 as a deposit and giving the seller a 10% mortgage for the balance. The monthly repayment was $3000. The entry to record the payment on 1 June 2019 is:

• A) DR Interest expense $3000; CR Bank $3000
• B) DR Mortgage payable $3000; CR Bank $3000
• C) DR Interest expense $2500; DR Mortgage payable $500; CR Bank $3000
• D) DR Interest expense $2500; DR Bank $500; CR Mortgage payable $3000

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Definitions:

Neurons

Specialized cells in the nervous system that transmit information to other nerve cells, muscle, or gland cells.

Growth Spurt

A rapid increase in growth, typically occurring during puberty.

Breast-Feeding

The feeding of an infant or young child with milk from a woman’s breast, providing essential nutrients and immune support.

Undernourishment

a condition in which an individual does not intake enough nutrients to meet their daily energy requirements, leading to malnutrition and health issues.