Question

Cory issued a note to his creditor in exchange for an account. cory records the transaction by debiting
a. notes payable and crediting accounts payable.
b. notes receivable and crediting accounts receivable.
c. accounts payable and crediting notes payable.
d. accounts receivable and crediting notes payable

Answer 1

i believe the answer is a. 

Answer 2

The correct answer is letter C. Accounts Payable and Crediting Notes Payable.