Answer: For question 2 I think it would be C
Step-by-step explanation:
Answer:
Step-by-step explanation:
Notes payable = $348000
Payable interest = Note payable × Interest rate × (no of months used/no of months in a year)
348000*(8/100)*(3/12)
= 3480*8*(3/12)
= 83520/12
= $6,960
The total cash will be $348000 + $6960 = $354960
Therefore in the account statement, om the debit side we will have the Notes payable and payable interest, while on the credit side we will have total cash.
This can be seen as attached.
I think it’s B hope that helped
