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  3. t or company borrowed s40 000 on a four year, 8% i

t or Company borrowed S40 000 on a four year, 8% installment note. Chico wil...

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Accounting

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t or Company borrowed S40 000 on a four year, 8% installment note. Chico wil record the issuance of this note with the following entry: 18) A) 40,000 3,20 36,80 nterest payable Notes payable 36,80 3,200 iscount on notes payable Notes payable 40,000 C) 43,200 Notes payable 43,200 D) 40,000 Notes payable 40,000 19) The Platte Co poration issuesa 5-year rose payable on January 1, 2016 for ss,000. The interest rate is 5% and the annual payment of $1,156, due each December 31, includes both interest and principal. Which of the following answers correctly shows the effect of the issuance of the note oa Plate's financial Assets-LiabEquity Revenue ExpeaseNet In Cash Flow NA +FA NA 4OA NA +FA 5,000) NA NA NA 5,000 NA NA NA NA 19) A) Option C B) Option D C)Option B D) Option A

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