On October 1,2015,Attra Inc

question 190

Multiple Choice

On October 1,2015,Attra Inc.borrows $200,000 on a three-year note that requires the company to pay 6% interest on March 31 and September 30.On December 31,2015,the adjusting entry to accrue interest on the note should debit:

• A) Interest Expense and credit Interest Payable for $3,000.
• B) Interest Payable and credit Interest Expense for $3,000.
• C) Interest Expense and credit Cash for $6,000.
• D) Interest Expense and credit Interest Payable for $6,000.

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Definitions:

Low In Calories

Food items that are low in calories have a small amount of calories per serving, making them a choice for weight management.

Correct Verb

The use of a verb in its appropriate form, matching the subject in number and tense, ensuring grammatical accuracy.

Closing Date

The scheduled date on which the final legal transfer of property ownership from the seller to the buyer occurs.

Correct Verb

A correct verb is a verb that is appropriate in terms of its form and tense, accurately aligning with the subject and the context of the sentence.