On November 1, 2021, Ayayai Corp, which uses a calendar year as its fiscal year, signs a $28200, 8%, six-month note payable. Which of the following entries correctly records the payment of the note and entire interest on May 1, 2022? O Dr Notes Payable $28200 Dr Interest Expense 752 Dr Interest Payable 376 Cr Cash $29328 O Dr Notes Payable $30456 Cr Cash $30456 O Dr Notes Payable $29328 Cr Cash $29328 O Dr Notes Payable $28200 Dr Interest Expense 1128 Cr Cash $29328

On November 1, 2021, Ayayai Corp, which uses a calendar year as its fiscal year, signs a $28200, 8%, six-month note payable. Which of the following entries correctly records the payment of the note and entire interest on May 1, 2022? O Dr Notes Payable $28200 Dr Interest Expense 752 Dr Interest Payable 376 Cr Cash $29328 O Dr Notes Payable $30456 Cr Cash $30456 O Dr Notes Payable $29328 Cr Cash $29328 O Dr Notes Payable $28200 Dr Interest Expense 1128 Cr Cash $29328

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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