B. Row, Inc. borrows 2,000 from a bank on January 1, 2011 and ...

[fagboi]

B. Row, Inc. borrows 2,000 from a bank on January 1, 2011 and agrees to pay it back two years later with 7 interest. On January 1, 2011, the journal entry to record this transaction would include ________.
 
  A) a debit to Notes payable of 2,000
  B) a debit to Cash of 2,000
  C) a credit to Notes payable of 2,140
  D) more than one of these

Question 2

When the seller offers a sales discount, even if borrowing has to be done, it is generally advantageous for the buyer to pay within the discount period.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[dlook33]

Answer to Question 1

B

Answer to Question 2

True

[fagboi]

Gracias!

[tkempin]

TYSM