Kr2isT4yQueen Kr2isT4yQueen
  • 22-03-2017
  • Business
contestada

Brian inc. borrowed $8,000 from first bank and signed a promissory note. what entry should first bank record?

Respuesta :

andriansp andriansp
  • 29-03-2017
the entry that the bank should record is: 
Debit cash $8,000; Credit notes payable $ 8,000

by borrowing money, Brian inc.'s asset increased, which means the increase in cash should be recorded in Debit.
Meanwhile, a promise to pay back is considered a liability that should be paid, therefore it's recorded in Credit
Answer Link

Otras preguntas

Trigonometry Reference Angles and Triangles The value of Sin 420* is equal to?
What is the scale factor of drawing if the scale is 1 inch=4feet?
Which statement explains the outlook many Floridians had on slavery before and after Lincoln’s election as president? Many Floridians wanted to start a war to p
-2(4a^2-3[4a^2-(5b+a^2)]}
height=15 ft ; radius=10 ft what’s the volume?
What are some of the consequences of overurbanization?
6. Write the following multiplications as exponential abbreviations.a. 5x5b. 7 x 7 x 7 x 7c. 2 x 2 x 2d. 9 x 9 x 9 x 9 9​
London planes to repaint some classroom bookcases. She has 4 3/5 gallons of paint. All of the bookcases are the same the same and each requires 1/2 gallon of pa
Please help. I’m stuck in my house. I need to catch up on my school work
16-2x=-3x+6x+1 what is x