An Adjusting Entry Made to Record Accrued Interest on a Note

question 162

Multiple Choice

An adjusting entry made to record accrued interest on a note payable due next year consists of

• A) Interest Expense - Debit; Cash - Credit
• B) Interest Receivable - Debit; Interest Income - Credit
• C) Interest Expense - Debit; Notes Payable - Credit
• D) Interest Expense - Debit; Interest Payable - Credit

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Definitions:

pH

A measure of the acidity or basicity of an aqueous solution, ranging from 0 to 14, where 7 is neutral, lower values are more acidic, and higher values are more basic.

Hardness

A measure of the resistance of a material to deformation or penetration.

Caffeine

A stimulant drug found in coffee, tea, chocolate, and certain soft drinks and medications, known for its ability to temporarily ward off drowsiness and restore alertness.

Refined Sugar

Processed sugar that has been stripped of its natural nutrients and fiber, commonly used as a sweetener in foods and beverages.