The Journal Entry for Accrued Interest on a Note Payable

question 73

Multiple Choice

The journal entry for accrued interest on a note payable by the borrower includes:

• A)a debit to Interest Expense and credit to Cash.
• B)a debit to Interest Expense and credit to Interest Payable.
• C)a debit to Interest Payable and credit to Cash.
• D)a credit to Interest Expense and debit to Notes Payable.

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Definitions:

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