On November 1, 2014, Fain Corporation paid principal and interest on a 6-month, 8% note payable with a face amount of $5,000. How did this transaction affect Fain's financial statements?
A) Choice A
B) Choice B
C) Choice C
D) Choice D

Question

On November 1, 2014, Fain Corporation paid principal and interest on a 6-month, 8% note payable with a face amount of $5,000. How did this transaction affect Fain's financial statements? 
A) Choice A 
B) Choice B 
C) Choice C 
D) Choice D

Quizplus · Accepted Answer

The Answer of On November 1, 2014, Fain Corporation paid principal and interest on a 6-month, 8% note payable with a face amount of $5,000. How did this transaction affect Fain's financial statements? 
A) Choice A 
B) Choice B 
C) Choice C 
D) Choice D

On November 1, 2014, Fain Corporation Paid Principal and Interest