Business, 01.12.2020 16:40 erikamaldonado661

On November 1, Mcgonagall borrowed from Dumbledore, giving him a $12,000, 3 month, 9% note, interest payable at maturity. Mcgonagall made no entry after November 1. On December 31, the end of the accounting period, what entry would Mcgonagall make?
A. Interest Payable 180
Interest Expense 180
B. Interest Expense 180
Interest Payable 180
C. Interest Expense 180
Cash 180
D. Interest Payable 180
Discount on Notes Payable 180

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On November 1, Mcgonagall borrowed from Dumbledore, giving him a $12,000, 3 month, 9% note, interest...