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West County Bank agrees to lend Pharoah Company $432000 on January 1. Pharoah Company signs a $432000, 6%, 6-month note. What entry will Pharoah Company make to pay off the note and interest at maturity
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West County Bank agrees to lend Pharoah Company $432000 on January 1. Pharoah Company signs a $432000, 6%, 6-month note. What entry will Pharoah Company make to pay off the note and interest at maturity assuming that interest has been accrued to June 30?

User Bertolami
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6 votes

Answer:

D C

Accrued expenses 12960

Cash 12960

Step-by-step explanation:

capital % interest Interest

432000 6% 12960 six months

User Axon
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