The Journal Entry to Record Accrued Interest on a Note

question 78

Multiple Choice

The journal entry to record accrued interest on a note receivable at year end is:

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