If a Bank Statement Included a Bank Collection of a Note

question 109

Multiple Choice

If a bank statement included a bank collection of a note receivable and the related interest revenue,the journal entry to record this item should include a:

• A)debit to Note Receivable and a credit to Cash.
• B)debit to Cash and a credit to Note Receivable.
• C)debit to Cash,credit to Note Receivable,and credit to Interest Revenue.
• D)debit to Note Payable,credit to Cash and credit to Interest Revenue.

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Definitions:

Executive Processing

Pertains to the cognitive processes involved in planning, problem-solving, and decision-making in the brain's prefrontal cortex.

Cultural Awareness

The understanding and appreciation of cultural differences and similarities within, among, and between groups.

Ethnocentrism

The act of judging another culture based on the standards and values of one's own culture, often accompanied by a belief in the superiority of one's own ethnic group or culture.

Collective Narcissism

it is a type of narcissism where an individual has an inflated self-love of their own group, to the point where the group believes it is superior to other groups.