If a Bank Statement Included a Bank Collection of a Note

question 109

Multiple Choice

If a bank statement included a bank collection of a note receivable and the related interest revenue,the journal entry to record this item should include a:

• A)debit to Note Receivable and a credit to Cash.
• B)debit to Cash and a credit to Note Receivable.
• C)debit to Cash,credit to Note Receivable,and credit to Interest Revenue.
• D)debit to Note Payable,credit to Cash and credit to Interest Revenue.

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Definitions:

John Watson

An American psychologist who is considered one of the founders of behaviorism, emphasizing the role of environmental factors in shaping behavior.

Pseudoforgetting

This term refers to the phenomenon where information was never actually learned or encoded into memory, giving the illusion of having forgotten it.

Ineffective Encoding

The inadequate processing of information into the memory system, resulting in poor retention.

Decay of Storage

Refers to the theory that information in memory fades over time if it is not accessed or used.