The Adjusting Entry to Record Accrued Interest on a Note

question 50

Multiple Choice

The adjusting entry to record accrued interest on a note receivable due next year consists of a

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

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