What Would Be the Adjusting Entry for a Note Payable

question 147

Multiple Choice

What would be the adjusting entry for a note payable whose interest is not included in the face amount of the note?

• A)Debit Interest Receivable and credit Interest Income.
• B)Debit Interest Expense and credit Cash.
• C)Debit Interest Expense and credit Interest Payable.
• D)Debit Cash and credit Notes Payable.

Grasp the concept of diminishing marginal product and its implications for resource employment.

Learn how changes in input prices influence the combination of resources used by firms.

Analyze the effect of market conditions on the demand for labor.

Identify the conditions under which firms will expand or decrease their employment of labor.

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