The Journal Entry to Record the Payment of an Interest-Bearing

question 111

Multiple Choice

The journal entry to record the payment of an interest-bearing note is

• A) debit Cash; credit Notes Payable
• B) debit Accounts Payable; credit Cash
• C) debit Notes Payable and Interest Expense; credit Cash
• D) debit Notes Payable and Interest Receivable; credit Cash

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Definitions:

Strictest

Pertaining to the most rigid, exacting, or severe in expectation or requirement.

Vegetarian

A person who does not eat meat, and sometimes other animal products, especially for moral, religious, or health reasons.

Person, Who

A grammatical structure used to introduce a defining or explanatory clause about a person or people mentioned in a sentence.

Poultry

Domesticated birds kept by humans for their eggs, meat, or feathers.