Question

Use the information above to answer the following question. What journal entry will Brickyard make when paying the note at maturity?

A) Debit Cash and credit Notes Payable for $200,000

B) Debit Cash and credit Notes Payable for $206,000

C) Debit Notes Payable and credit Cash for $206,000

D) Debit Notes Payable and credit Cash for $200,000

Answer

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