A company borrowed $80,000 from a bank by signing a long-term note payable. The journal the transaction would be recorded in is the:
A) Sales journal.
B) Purchases journal.
C) General journal.
D) Cash disbursements journal.
E) Cash receipts journal.

Question

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The Answer of A company borrowed $80,000 from a bank by signing a long-term note payable. The journal the transaction would be recorded in is the:
A) Sales journal.
B) Purchases journal.
C) General journal.
D) Cash disbursements journal.
E) Cash receipts journal.

A Company Borrowed $80,000 from a Bank by Signing a Long-Term