Given , Write in Simplest Form

question 1

Multiple Choice

Given , write in simplest form.

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Definitions:

Adjusting Entry

An Adjusting Entry is a journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period, ensuring that the financial statements reflect accurate and fair values.

Dishonored Note

A dishonored note is a promissory note that has not been paid by the maker at its maturity date.

Direct Write-Off Method

An accounting method where bad debts are charged against income at the time they are deemed irrecoverable, rather than being anticipated in advance.

Interest

Interest is the cost paid for borrowing money, typically expressed as a percentage of the amount borrowed over a certain period of time.