HCF, a Finance Company, Lends Able Business $12,000 at 5

question 146

Multiple Choice

HCF, a finance company, lends Able Business $12,000 at 5% on December 1, 2020. HCF's adjusting entry on December 31, 2020, should include

• A) A debit to Interest Earned for $50
• B) A credit to Interest Receivable for $50
• C) A credit to Interest Earned for $50
• D) A debit to Cash for $600
• E) A debit to Interest Expense for $600

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Definitions:

Nuclear Envelope

A double membrane that encloses the nucleus in eukaryotic cells, separating the nucleus from the cytoplasm.

Prometaphase

Stage of mitosis during which spindle microtubules attach to kinetochores of chromosomes, which begin to move toward the cell’s midplane; occurs after prophase and before metaphase.

Oogenesis

Production of female gametes (eggs) by meiosis. Compare with spermatogenesis.

Male Gametes

Reproductive cells produced by male organisms that fuse with female gametes during fertilization to form a zygote.