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Which the note requires a journal entry that includes

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Problem 1: Aaron Corporation issued a 4-year, $75,000, zero-interest-bearing note to Brown Company on January 1, 2014, receiving cash of $47,664. The implicit interest rate is 12%. The note requires a 12/31/14 journal entry that includes

Select one:

a.  A credit to Cash of $5,720
b.  A credit to Discount on Note Payable of $6,834
c.  A credit to Interest Expense of $6,834
d.  A debit to Interest Expense of $5,720
e. A debit to Discount on Note Payable of $6,834

Reference no: EM132984633

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