An Adjustment That Must Be Made for the Accrued Interest

question 69

Multiple Choice

An adjustment that must be made for the accrued interest on a note receivable is to:

• A)debit Interest Expense and credit Interest Payable.
• B)debit Interest Receivable and credit Interest Income.
• C)debit Interest Receivable and credit Notes Receivable.
• D)None of these answers are correct.