Multiple Choice
Pegasus Corp.signed a three-month,zero-interest-bearing $253,315 note on November 1,2016 for the purchase of $250,000 of inventory.If Pegasus makes adjusting entries only at the end of the year,the adjusting entry made at December 31,2016 will include a ________.
A) debit to Note Payable for $2,210
B) debit to Interest Expense for $2,210
C) credit to Note Payable for $2,210
D) credit to Interest Expense for $2,210
Correct Answer:
Verified
Correct Answer:
Verified
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