The Jimenez Company Accepted an Interest-Bearing Note to Settle a Past-Due

question 88

Multiple Choice

The Jimenez Company accepted an interest-bearing note to settle a past-due account originating from a sale of merchandise. When the note is collected, the interest earned should be credited to

• A)Allowance for Doubtful Accounts.
• B)Interest Income.
• C)Sales.
• D)Notes Receivable.

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A grammatical mistake involving the incorrect use of pronouns in a sentence, such as using 'he' for 'she', or 'them' for 'it'.