The Journal Entry to Record Accrued Interest on a Short-Term

question 57

Multiple Choice

The journal entry to record accrued interest on a short-term note payable includes a debit to:

• A)Interest Payable and a credit to Cash.
• B)Interest Expense and a credit to Cash.
• C)Interest Expense and a credit to Interest Payable.
• D)Interest Payable and a credit to Notes Payable.

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Definitions:

Tribal Rights

Legal or moral rights recognized for indigenous tribes, including land rights, self-determination, and preservation of culture and language.

Sierra Club

An environmental organization established in the United States to promote conservation of the natural environment.

Conservation

The protection and preservation of the natural environment, including plants, animals, and natural resources, to prevent exploitation and degradation.

Preservation

The act of maintaining or conserving something in its original or existing state, often applied to cultural, historical, and environmental endeavors.