On January 1, Year 1, Stratton Company borrowed $100,000 on a 10-year, 7% installment note payable. The terms of the note require Stratton to pay 10 equal payments of $14,238 each December 31 for 10 years. The required general journal entry to record the first payment on the note on December 31, Year 1 is: Multiple Choice Debit Interest Expense $7,000; debit Notes Payable $7,238; credit Cash $14,238. Debit Notes Payable $7,000; debit Interest Expense $7,238; credit Cash $14,238. Debit Notes Payable $10,000; debit Interest Expense $7,000; credit Cash $17,000. Debit Notes Payable $14,238; credit Cash $14,238. Debit Notes Payable $10,000; debit Interest Expense $4,238; credit Cash $14,238.

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whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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