HCF,a Finance Company,lends Able Business $12,000 at 5% on December

question 142

Multiple Choice

HCF,a finance company,lends Able Business $12,000 at 5% on December 1,2015.HCF's adjusting entry on December 31,2015,should include:

• A) A debit to Interest Earned for $50.
• B) A credit to Interest Receivable for $50.
• C) A credit to Interest Earned for $50.
• D) A debit to Cash for $600.
• E) A debit to Interest Expense for $600.

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Definitions:

Cranial Nerve

Nerve that originates from a nucleus within the brain; there are 12 pairs of cranial nerves.

Trigeminal

Pertaining to the trigeminal nerve, which is the fifth cranial nerve responsible for sensory data from the face and motor functions such as biting and chewing.

Glossopharyngeal

Pertaining to the ninth cranial nerve, which carries sensory information from the back of the throat and taste from the posterior third of the tongue.

Hypoglossal

Relating to the twelfth cranial nerve, which is primarily responsible for controlling the muscles of the tongue.