On December 31,2015,Infinity Inc

question 19

Multiple Choice

On December 31,2015,Infinity Inc.records an adjusting entry to accrue interest on a note.On January 31,2016,Infinity receives a check for $4,680,which represents two months of accumulated interest on the note.Upon receipt of this interest payment,Infinity should debit:

• A) Interest Receivable for $2,340, debit Cash $2,340, and credit Interest Revenue for $4,680.
• B) Cash for $4,680, credit Interest Receivable for $2,340, and credit Interest Revenue for $2,340.
• C) Cash for $4,680 and credit Interest Receivable for $4,680.
• D) Cash for $4,680 and credit Interest Revenue for $4,680.

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Definitions:

Program Fidelity

The degree to which a program or intervention is delivered as originally intended or designed.

Program Implementation

The process of putting a planned program into action, ensuring that the intended services or interventions are delivered.

Planning Phase

A critical stage in a project or research where objectives are defined, methods are selected, and resources are allocated, setting the groundwork for successful execution.

Evaluation

The systematic process of determining the merit, worth, or value of something, often for the purpose of making decisions about possible improvements or the continuation of an intervention or program.