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:

Sensory Adaptation

The process by which sensory receptors become less sensitive to constant stimuli over time.

Thermoreceptors

Sensory receptors in the skin and other organs that detect changes in temperature.

Pain Receptors

Nerve receptors specifically sensitive to various forms of damaging stimuli, resulting in the perception of pain.

General Senses

Sensory perceptions such as touch, temperature, pain, and proprioception that are distributed throughout the body.