On October 1, 2021, Stripes Inc. lends $100,000 to another company and accepts a 24-month, 6% note. What is the amount of intere
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When the market rate is 12%, a company issues $50,000 of 9%, 10-year bonds and pay interest semiannually. When the bonds mature, the issuer records the journal entry of its payment of principal with a debit to cash in the amount of $50,000.
<h3>What is a journal entry?</h3>A systematic way of making and maintaining the record of the financial transactions in the journal books of an organization, with a proper narration of the same, is known as a journal entry.
Hence, option C holds true regarding the journal entry.
Learn more about a journal entry here:
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