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 receipts journal.
B) General journal.
C) Sales journal.
D) Cash disbursements journal.
E) Purchases journal.

Question

Quizplus · Accepted Answer

The payment of $5,000 on a long-term note 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