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On November 1, 2025, Ashton, the purchased merchandise inventory for $32,000 by signing a note payable. The note is for
Posted: Wed May 04, 2022 7:12 am
by answerhappygod
- On November 1 2025 Ashton The Purchased Merchandise Inventory For 32 000 By Signing A Note Payable The Note Is For 1 (16.47 KiB) Viewed 47 times
On November 1, 2025, Ashton, the purchased merchandise inventory for $32,000 by signing a note payable. The note is for 6 months and bears interest at a rate of 5%. Interest was acorved on December 31, 2025. What is the journal entry on maturity date when the note was paid? A Notes Payable 32.000 800 Interest Pay Cash 32,000 OB Notes Pay 32,000 267 Interest Payable interest Expense Cash 533 32,000 OG Note Payable 32,000 Interest Expense 267 533 Interest Payable Ca 32,800 OD. Notes Payable 32.000 Interest Expense 8:00 Cash 32.000