West county bank agrees to lend the block builders company $100,000 on january 1. block builders company signs a $100,000, 6%, 6-month note.

the entry made by block builders company on january 1 to record the proceeds and issuance of the note is

a. interest expense 3,000
cash. 97,000
notes payable 100,000
b. cash 100,000
notes payable 100,000
c. cash 100,000
interest expense 3,000
notes payable 103,000
d. cash 100,000
interest expense 3,000
notes payable 100,000
interest payable 3,000

The correct answer is B.

Explanation:

Giving the following information:

West County Bank agrees to lend the Block Builders Company $100,000 on January 1. Block Builders Company signs a $100,000, 6%, 6-month note.

The adjusting entry is:

Cash            100,000

       Notes payable              100,000

pretty sure c

explanation:

d, conspicuous consumption is when you try to increase your wealth or social status (and in the case he's trying to create the perception of wealth considering he can't really afford it)