The Journal Entry a Company Uses to Record the Payment

question 25

Multiple Choice

The journal entry a company uses to record the payment of an interest-bearing note is

• A) debit Cash; credit Notes Payable
• B) debit Accounts Payable; credit Cash
• C) debit Notes Payable and Interest Expense; credit Cash
• D) debit Notes Payable and Interest Receivable; credit Cash

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