A company makes a payment of $5,000 on a long-term note payable.The journal the transaction would be recorded in is the.
A)Cash disbursements journal.
B)Sales journal.
C)Cash receipts journal.
D)Purchases journal.
E)General journal.

Question

Quizplus · Accepted Answer

The payment of $5,000 on a long-term note payable is a cash disbursement and would be recorded in the cash disbursements journal.

A Company Makes a Payment of $5,000 on a Long-Term