Answer: See explanation
Explanation:
a. The Journal entries to record the issuance of the note will be:
Debit Accounts payable $10000
Credit Notes payable $10000
(To record the issuance of note to creditor)
b. The journal entry to record thehe payment of the note at maturity, including interest will be:
Debit Notes payable $10000
Debit Interest expense $125
Credit Cash $10000 + $125 = $10125
(To record the payment on the note on maturity.
Note:
Interest expense = $10000 × 5% × 90/360
= $10000 × 0.05 × 0.25
= $125
True i do believe but im not 100% sure this isnt my strong suite
The correct answer for the question that is being presented above is this one: "a. enabled corporate executives to supervise daily business activities more closely." The corporation became a popular form of business organization during the post-Civil War period because it <span>enabled corporate executives to supervise daily business activities more closely.</span>
