At the End of the First Quarter,which of the Following $\quad$

question 129

Multiple Choice

At the end of the first quarter,which of the following entries will be made to record the interest earned by Palmer on the Perez note?

• A) DR Cash\(\quad\)\(\quad\)2,500
• CR Interest income\(\quad\)2,500
• B) DR Accrued interest receivable\(\quad\)2,500
• CR Interest income\(\quad\)2,500
• C) DR Notes receivable-Perez\(\quad\)2,265
• CR Interest income\(\quad\)2,265
• D) DR Cash\(\quad\)\(\quad\)2,265
• CR Accrued interest receivable\(\quad\)2,265

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Definitions:

Britain

A country located on the island of Great Britain, part of the United Kingdom, known for its rich history, cultural influence, and political power.

France

A country in Western Europe known for its cultural influence, history, and contributions to art, philosophy, and science, as well as its role in various global affairs.

Utopian Societies

Idealistic communities or societies aiming to create a perfect social, legal, and political system, often portrayed in literature and philosophy.

Charles Fourier

A French philosopher and social theorist known for his views on cooperative communities and the organization of society based on harmonious principles.