Multiple Choice
Which of the following would be the adjusting entry to record accrued interest on a loan made to the business at the end of an accounting period?
A) Dr.Interest expense,Cr.Cash
B) Dr.Interest expense,Cr.Interest payable
C) Dr.Interest payable,Cr.Interest income
D) Dr.Interest payable,Cr.Cash
Correct Answer:
Verified
Correct Answer:
Verified
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