The business can also raise its funds by issuing a promissory note.The correct journal entry is
A. debit-cash credit -account payable
B. debit- note payable
C. debit – cash credit -loan payable
D. none of the above
Answer:
D
Step-by-step explanation:
It should be, Debit-Cash and Credit—notes payable, since the transaction was promissory note.
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