If Your Customer Does Not Pay the Note at Maturity,the

question 53

Multiple Choice

If your customer does not pay the note at maturity,the journal entry on your books would be:

• A)debit Notes Payable and credit Accounts Payable.
• B)debit Accounts Payable,credit Interest Income and credit Notes Payable.
• C)debit Accounts Receivable,credit Interest Income and credit Notes Receivable.
• D)debit Notes Receivable,credit Interest Income,and credit Accounts Receivable.