is Cash 485000 Interest Expense Notes Payable 21825 506825 Cash Interest Expense Notes Payable 485000 21825 485000 Interest Payable 21825 O Interest Expense 21825 Cash 463175 Notes Payable 485000 O Cash 485000 Notes Payable 485000
is Cash 485000 Interest Expense Notes Payable 21825 506825 Cash Interest Expense Notes Payable 485000 21825 485000 Interest Payable 21825 O Interest Expense 21825 Cash 463175 Notes Payable 485000 O Cash 485000 Notes Payable 485000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
the answer is the last one. tell me why

Transcribed Image Text:Moss County Bank agrees to lend the Blossom Company $485000 on January 1. Blossom Company signs a $485000, 6%, 9-month note. The entry made by Blossom Company on January 1 to record the proceeds and issuance of the note
is
O Cash
485000
Interest Expense
Notes Payable
21825
506825
O Cash
485000
Interest Expense
Notes Payable
Interest Payable
21825
485000
21825
O Interest Expense
21825
Cash
463175
Notes Payable
485000
O Cash
485000
Notes Payable
485000
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