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Business, 07.04.2020 23:29 hella33revj

On November 1, 2018, ABC Corp. borrowed $100,000 cash on a 1-year, 6% note payable that
requires ABC to pay both principal and interest on October 31, 2019. The journal entry on
November 1, 2018 would include which of the following?

A. Debit to Interest Expense $6,000
B. Debit to Cash $100,000
C. Credit to Note Payable $106,000
D. Credit to Note Payable $100,000

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On November 1, 2018, ABC Corp. borrowed $100,000 cash on a 1-year, 6% note payable that
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