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ezcpa, CPA
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Experience:  Certified Public Accountant
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for ezcpa 9) When an interest-bearing note matures, the

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for ezcpa

9) When an interest-bearing note matures, the balance in the Notes Payable account is
A. less than the total amount repaid by the borrower
B. the difference between the maturity value of the note and the face value of the note
C. equal to the total amount repaid by the owner
D. greater than the total amount repaid by the owner
Submitted: 2 years ago.
Category: Single Problem
Expert:  ezcpa replied 2 years ago.

ezcpa :

Hello. Thank you for using Just Answer.

Customer:

which is the answer?

ezcpa :

Sorry, I'm taking so long, carefully reading the options - If note payable is recorded as credit and payments are posted to debit interest and principal, then the balance at maturity would be C. equal to the amount repaid by the owner.

ezcpa, CPA
Category: Single Problem
Satisfied Customers: 171
Experience: Certified Public Accountant
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