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    Fundamental Accounting Principles Study Set 3
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    Exam 11: Current Liabilities
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    West Coast Outdoor Co
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West Coast Outdoor Co

Question 3

Question 3

Multiple Choice

West Coast Outdoor Co.signed a $8,000,90-day,4% interest-bearing note payable at the bank in exchange for cash.Which of the following journal entries should West Coast Outdoor Co.use to record the note?


A)
West Coast Outdoor Co.signed a $8,000,90-day,4% interest-bearing note payable at the bank in exchange for cash.Which of the following journal entries should West Coast Outdoor Co.use to record the note? A)    B)    C)    D)    E)
B)
West Coast Outdoor Co.signed a $8,000,90-day,4% interest-bearing note payable at the bank in exchange for cash.Which of the following journal entries should West Coast Outdoor Co.use to record the note? A)    B)    C)    D)    E)
C)
West Coast Outdoor Co.signed a $8,000,90-day,4% interest-bearing note payable at the bank in exchange for cash.Which of the following journal entries should West Coast Outdoor Co.use to record the note? A)    B)    C)    D)    E)
D)
West Coast Outdoor Co.signed a $8,000,90-day,4% interest-bearing note payable at the bank in exchange for cash.Which of the following journal entries should West Coast Outdoor Co.use to record the note? A)    B)    C)    D)    E)
E) West Coast Outdoor Co.signed a $8,000,90-day,4% interest-bearing note payable at the bank in exchange for cash.Which of the following journal entries should West Coast Outdoor Co.use to record the note? A)    B)    C)    D)    E)

Correct Answer:

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