Teller Purchased Merchandise from TechCom on October 17 of the Current

question 21

Multiple Choice

Teller purchased merchandise from TechCom on October 17 of the current year and TechCom accepted Teller's $4,800, 90-day, 10% note. What entry should TechCom make on December 31, to record the accrued interest on the note?

• A) Debit Cash $20; credit Notes Receivable $20.
• B) Debit Cash $100; credit Notes Receivable $100.
• C) Debit Interest Receivable $20; credit Interest Revenue $20.
• D) Debit Interest Receivable $100; credit Interest Revenue $100.
• E) Debit Cash $120; credit Interest Revenue $100; credit Interest Receivable $20.

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Definitions:

Adaptive Coping Skill

Strategies or techniques that enable an individual to manage and navigate through stress or adversity in a healthy manner.

Humor

The quality of being amusing or comic, especially as expressed in literature or speech, contributing to human wellness and social interaction.

Adaptive Coping Skill

Adaptive coping skills are techniques or methods used to manage stress and adverse situations in a healthy and effective manner.

Journaling

The practice of regularly recording one's thoughts, experiences, and observations in a journal for personal reflection, planning, or creative expression.