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On January 1, Western Corp. borrows $100,000 from FirstBank using a six - month, 10%...

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Accounting

On January 1, Western Corp. borrows $100,000 from FirstBank using a six - month, 10% promissory note. Interest and principal are payable at maturity. The
journal
entry on June 30 includes (Select all that apply.)
credit cash $105,000
credit cash $100,000
debit cash $105,000
debit interest expense $10,000
debit notes payable $100,000
debit interest expense $5,000
credit notes payable $105,000
On January 1, Western Corp. borrows $100,000 from FirstBank using a six-month, 10% promissory note. Interest and principal are payable at maturity. The journal
entry on June 30 includes (Select all that apply.)
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