An Adjustment That Must Be Made for the Accrued Interest

question 74

Multiple Choice

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

• A)debit Interest Expense and credit Interest Income.
• B)credit Interest Expense and debit Interest Income.
• C)debit Interest Expense and credit Interest Payable.
• D)debit Interest Expense and credit Cash.

---

Definitions:

Constructs

In psychology, abstract ideas or concepts that are deliberately used to understand and explain patterns of behavior and thought.

Adjustment Problems

Difficulties in coping with or adapting to new situations, environments, or changes, often resulting in psychological distress or dysfunction.

Anxiety

A feeling of worry, nervousness, or unease typically about an imminent event or something with an uncertain outcome.

Construct Systems

A psychological framework developed by an individual to make sense of the world, experiences, and relationships.