Business, 07.05.2020 12:58 smay7681

On June 1, Sawyer Co. borrowed $5,000 by extending their past-due account payable with a 45-day, 12% interest-bearing note. On July 16, the due date, Sawyer pays the amount due in full. Sawyer would record this payment with a (debit/credit) to Interest Expense in the amount of .

A. credit; $600

B. debit; $75

C. debit; $600

D. credit; $75

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On June 1, Sawyer Co. borrowed $5,000 by extending their past-due account payable with a 45-day, 12%...

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