Question

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

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

B) Debit Interest Expense for $4,000, and credit Cash for $4,000

C) Debit Interest Expense for $6,000 and Cash for $206,000

D) Debit Interest Payable for $4,000, credit Interest Expense for $2,000, and credit Cash for $6,000

Answer

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