Question

"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"

Answer 1

Answer: Notes payable.

Step-by-step explanation:

Answer 2

It will be recorded as a Loan Payable

Step-by-step 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.