The Journal Entry for Accrued Interest on a Note Payable

question 32

Multiple Choice

The journal entry for accrued interest on a note payable includes

• A) crediting Interest Expense.
• B) debiting Accrued Interest Receivable and crediting Interest Revenue.
• C) debiting Accrued Interest Payable and crediting Interest Expense.
• D) debiting Interest Expense and crediting Accrued Interest Payable.

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Definitions:

Relevant Information

Data or facts that are pertinent and useful to the current topic or decision-making process.

Introduction

The initial section of a document, presentation, or speech that sets the stage for the main content, providing background information or an overview.

Motivating Action

Encouraging or provoking a specific response or behavior from the audience.

Task Assignments

Specific duties or responsibilities allocated to individuals or teams within a project or workplace setting.