Help Save & Ext Sub TB MC Qu. 09-126 On April 12, Hong Company... On...
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Help Save & Ext Sub TB MC Qu. 09-126 On April 12, Hong Company... On April 12, Hong Company agrees to accept a 60-day, 10%, $6,000 note from Indigo Company to extend the due date on an overdue account. What is the journal entry that Indigo Company would make, when it records payment of the note on the maturity date? (Use 360 days a year) Multiple Choice C ) Debit Notes Payable $6.000 debit interest Expense $100; Credit Cash $6,100. Debit Notes Payable $6.000; debit interest Expense $150, credit Cash 56,150 Debit Notes Payable 56.000 credit interest Expense $100, Credit Cash 55.900 Oo oo O Debit Cash 56.100: credit interest Revenue $100 Credit Noles Recebe 56.000 O Debit Cash $6.500, credit interest Revenue $100.cre Notes Payable 56.000 Next >
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