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Which would be part of aaron journal entry to issue note

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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%. Which of the following would be part of Aaron's journal entry to issue the note?

Select one:

a. A credit to Cash of $47,664
b. A debit to Discount on Note Payable of $27,336
c. A debit to Note Payable of $75,000
d. A credit to Note Payable of $47,664
e. A debit to Note Payable of $47,664

Reference no: EM132984635

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