On November 30, Thatcher Company issued an $8,000, 6%, 4-month note to the National Bank. The entry on Thatcher's books to record the payment of the note at maturity will include a credit to Cash for: a. $8,000. b. $8,480. c. $8,160. d. $8,320.
On November 30, Thatcher Company issued an $8,000, 6%, 4-month note to the National Bank. The entry on Thatcher's books to record the payment of the note at maturity will include a credit to Cash for: a. $8,000. b. $8,480. c. $8,160. d. $8,320.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterD: Notes Payable And Notes Receivable
Section: Chapter Questions
Problem 2P
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![On November 30, Thatcher Company issued an $8,000,
6%, 4-month note to the National Bank. The entry on
Thatcher's books to record the payment of the note at
maturity will include a credit to Cash for:
a. $8,000.
b. $8,480.
c. $8,160.
d. $8,320.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3dade5c4-8271-4c18-a532-0e7145715281%2Fd1a56251-b2f3-47db-a0d8-eb0c04c64395%2Ftg5d8qm4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On November 30, Thatcher Company issued an $8,000,
6%, 4-month note to the National Bank. The entry on
Thatcher's books to record the payment of the note at
maturity will include a credit to Cash for:
a. $8,000.
b. $8,480.
c. $8,160.
d. $8,320.
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