Time Remaining: 00 2955 Submit Test This Question: 1 pt 35 ot 41 (25 complete) T

Question

Time Remaining: 00 2955 Submit Test This Question: 1 pt 35 ot 41 (25 complete) This Test: 41 pls The journal entry to record the first semiannual payment would be (round interest calculation to the nearest dollar) to , e tgagw O A. debit Interest Expense, $10,800, debit Mortgage Expense, $1,134, credit Cash, $11,934 O B. debit Interest Expense, $1,134, debit Mortgage Payable, $10,800, credit Cash, $11,934 O C. debit Mortgage Payable, $11,934, credit Cash, $11,934 O D. debit Interest Expense, $10,800, debit Mortgage Payable, $1,134, credit Cash, $11.934 Click to select vour answer O Type here to search

Explanation / Answer

So correct answer is D

30-Jun Interest expense 10800 (270000*8%*6/12) Mortagage payable 1134                 Cash 11934

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