Clean 123 Inc. takes out a bank loan for $25,500.Later it makes a $120 payment towards the loan with a check. How would Clean 123 Inc. record these transactions? Cash $25,480 Notes Payable 25,480 Notes Payable $120 Cash $120
Notes Payable $25,480 Cash 25,4800 Cash $120 Notes Payable $120
Cash $25,500 Notes Payable 25,500 Cash $120 Notes Payable $120
Cash $25,500 Notes Payable 25,000 Notes Payable $120 Cash $120