Tricia's Decor Purchased Merchandise from House Beautiful and Issued a Promissory

Tricia's Decor purchased merchandise from House Beautiful and issued a promissory note. Tricia should record the transaction as:

A) debit Purchases and credit Notes Payable for the principal amount of the note.
B) debit Purchases and credit Notes Payable for the maturity value of the note.
C) debit Purchases and credit Accounts Payable for the face amount of the note.
D) debit Purchases and credit Accounts Payable for the maturity value of the note.

Correct Answer:

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