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Brian Inc. borrowed $8,000 from First Bank and signed a promissory note. What entry should Brian Inc. record?
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Brian Inc. borrowed $8,000 from First Bank and signed a promissory note. What entry should Brian Inc. record?

User Bowsersenior
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1 Answer

4 votes

Answer:

Dr Notes Receivable $8,000

Cr Cash $8,000

Step-by-step explanation:

Based on the information given we were told that Brian Inc. borrowed the amount of $8,000 from First Bank in which they signed a promissory note which means that the journal entry that Brian Inc. should record the transaction is :

Dr Notes Receivable $8,000

Cr Cash $8,000

User Peter Teoh
by
6.5k points
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