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:

Configurational Label

A notation used in chemistry to describe the spatial arrangement of atoms within molecules that cannot be changed without breaking chemical bonds.

Chiral Carbon

A carbon atom attached to four different groups, providing a molecule with a non-superposable mirror image.

Asymmetric Carbon

A carbon atom bonded to four different groups, creating a chiral center and potentially optical activity in the molecule.

R or S

Descriptors in chemistry that indicate the absolute configuration of chiral centers in molecules, determining their spatial arrangement as right-handed (R) or left-handed (S).