On july 1, shady creek resort borrowed $250,000 cash by signing a 10-year, 8% installment note requiring equal payments each june 30 of $37,258. what is the appropriate journal entry to record the issuance of the note? debit cash $250,000; debit interest expense $37,258; credit notes payable $287,258. debit notes payable $250,000; credit cash $250,000. debit cash $37,258; credit notes payable $37,258. debit cash $250,000; credit notes payable $250,000. debit cash $287,258; credit interest payable $37,258; credit notes payable $250,000.

debit cash $250,000; credit notes payable $250,000

Explanation:

July 1, journal entries should be:

Since cash is an asset account and it increases (the company receives money), it should be debited.

Since notes payable is a liability account and it increases, it should be credited.

-the personal ownership of property

-the influence of consumer demand

explanation:

the command economy prohibits the personal ownership of property.

basically, command economy is defined as the system where a nation’s government is the one that makes all the decisions when it comes to its economy. the government is the one who controls the production of goods and services and regulates the prices and salaries.

therefore, since that the government is the authority, then all kinds of personal ownership of property is prohibited by them.