the entry to record the initial borrowing of cash by issuing a promissory note causes a(n) . (select all that apply.) multiple select question. increase in stockholders' equity increase in assets decrease in liabilities decrease in assets decrease in stockholders' equity increase in liabilities

Question

25-10-2022
Business

Answered

the entry to record the initial borrowing of cash by issuing a promissory note causes a(n) . (select all that apply.) multiple select question. increase in stockholders' equity increase in assets decrease in liabilities decrease in assets decrease in stockholders' equity increase in liabilities

Answer :

Other Questions

What effect would the enzyme have on the amount of product made in 3 seconds? amounts decrease no change increase products.

How does the u. S. Economy benefit from either transaction (the foreign purchase of u. S. Goods and services [exports] or the purchase of u. S. Assets)?.

An investor has an account with stock from two different companies. Last year, his stock in company a was worth $4300 and his stock in company b was worth $3040

When a tax is placed on the sellers of cell phones, a) the size of the cell phone market and the price paid by buyers both decrease b) the size of the cell phon

When a tax is placed on the sellers of cell phones, A. the size of the cell phone market and the price paid by buyers both increase. B. the size of the cell pho

What are some examples of information you might include in the current status of a career plan? check all that apply. Classes you have takenjob or volunteer exp

Select the correct answer. Shelby is in a college course for half the day and then goes to high school. What program is she in? a. International baccalaureate b

How do court cases cost hundreds of thousands of dollars? choose all that apply.

Allison would like to find all records that are in stock. In her database, she has a field named "in stock. " when the item is in stock, a "yes" appears. What s

You have just been hired as a business consultant to determine what pricing policy would be appropriate to increase the total revenue of a therapeutic massage s

SanofarAfrin SanofarAfrin · Answer 1 · 2022-10-29T07:33:31-04:00

Option (b) and option (f) are the appropriate choices. As a result of the entry to reflect the initial borrowing of funds through the issuance of a promissory note, both assets and liabilities increase.

Promissory notes: what are they?

IOUs, loan agreements, and simple notes are other names for promissory notes. It is a formal document that states that the borrower has agreed to pay the lender a specific sum of money within a specific time limit. A legal commitment to repay the debt is established by this type of document, which is also enforceable in court.

How do you document a promissory note in a journal?

By debiting the account that receives value, typically the cash account, and crediting the notes payable account, the promissory note journal entry is made.

Learn more about promissory notes: https://brainly.com/question/948552

#SPJ4