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On October 1, 2025, Bella, Inc. took out a cash loan for $50,000 by signing a six-month, 8% note payable. The journal entry for Bella when the note is issued would be: O Notes Payable Cash O Cash ооо Accounts Payable O Merchandise Inventory Notes Payable O Cash Notes Payable 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000

On October 1, 2025, Bella, Inc. took out a cash loan for $50,000 by signing a six-month, 8% note payable. The journal entry for Bella when the note is issued would be: O Notes Payable Cash O Cash ооо Accounts Payable O Merchandise Inventory Notes Payable O Cash Notes Payable 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000

FINANCIAL ACCOUNTING
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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On October 1, 2025, Bella, Inc. took out a cash loan for $50,000 by signing a six-month, 8% note payable. The journal entry for Bella when the note is issued would be: Notes Payable Cash O Cash Accounts Payable Merchandise Inventory Notes Payable Cash Notes Payable 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000
Transcribed Image Text:On October 1, 2025, Bella, Inc. took out a cash loan for $50,000 by signing a six-month, 8% note payable. The journal entry for Bella when the note is issued would be: Notes Payable Cash O Cash Accounts Payable Merchandise Inventory Notes Payable Cash Notes Payable 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000
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