JessicaLao2801 JessicaLao2801

20-11-2019
Business

contestada

"Lyle Co. borrowed $20,000 from First Bank by signing a written promise to pay a definite sum of money on a specific future date. Lyle will record this in the general ledger as a(n) payable"

Respuesta :

dapofemi26 dapofemi26

20-11-2019

Answer:

It will be recorded as a Loan Payable

Explanation:

Since the money was borrowed and is to be returned at a specific date in the future, it is classified as a Load.

Therefore, the correct answer is Loan Payable.

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moonemoji369 moonemoji369

08-05-2020

Answer: Notes payable.

Explanation:

Answer Link

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