Wisconsin Bank lends A Company $150,000 on November 1. A Company signs a $150,000, 3%, 4-month note. The fiscal year end of A Company is December 31. The journal entry made by A Company on December 31 is:A) DR Interest Expense $ 750; CR Cash $ 750
A.) debit interest payable and credit cash for $1,200
b.) debit interest expense and credit payable for $1,200
c.) Debit interest expense and credit cash for $1,200
d.) Debit interest payable and credit interest expense for $1,200
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Home » Business » Wisconsin Bank lends A Company $150,000 on November 1. A Company signs a $150,000, 3%, 4-month note. The fiscal year end of A Company is December 31. The journal entry made by A Company on December 31 is:A) DR Interest Expense $ 750; CR Cash $ 750 A.