The Entry to Record Accrued Interest on a Note Receivable

question 163

Multiple Choice

The entry to record accrued interest on a note receivable at year end includes a debit to:

• A) Interest Revenue.
• B) Interest Receivable.
• C) Note Receivable.
• D) Cash.

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Definitions:

Plato

An ancient Greek philosopher who made foundational contributions to Western philosophy, including topics on ethics, politics, and metaphysics.

Aristotle

A Greek philosopher and polymath during the Classical period in Ancient Greece, known for his extensive contributions to various fields of philosophy and science.

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