Use the information above to answer the following question. On January 1, which

Question

Use the information above to answer the following question. On January 1, which of the following journal entries will be made by Brickyard to record the issuance of the note? O Debit Cash for $200,000, debit Interest Expense for $6.000, credit Notes Payable for $200,000, and credit Interest Payable for $6,000 O Debit Cash for $200,000, debit Interest Expense for $6,000, and credit Notes Payable for $206000 O Debit Interest Expense for $6,000, debit Cash $194,000, and credit Notes Payable for $200,000 Debit Cash and credit Notes Payable for $200,000

Explanation / Answer

1- debit cash 200000

credit notes payable 200000

2- Debit interest expense 4000

credit interest payable 4000

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