On November 1, 2019, Pop's Burgers signed a $900,000, 3%, six-month note payable with the amount borrowed plus accrued interest due six months later on
May 1, 2020. The appropriate adjusting entry was recorded on Dec 31. On May 1, 2020 what is the appropriate journal entry for the repayment of the note
payable?
Note Payable
Interest Expense
A. Interest Payable
Cash
Note Payable
Interest Expense
B. Interest Payable
Cash
Note Payable
Interest Expense
OC.
Interest Payable
Cash
Note Payable
OD. Interest Expense
Cash
$930,000
$11,250
$2,250
$913,500
$900,000
$9,000
$4,500
$913,500
$900,000
$9,000
$4,500
$904,500
$900,000
$13,500
$913,500