Multiple Choice
When a company pays cash to redeem a interest-bearing-note, the transaction includes
A) debiting Cash and crediting Notes Payable.
B) debiting Cash and Interest Expense and crediting Notes Payable.
C) debiting Notes Payable and crediting Cash.
D) debiting Cash and crediting Notes Receivable.
Correct Answer:
Verified
Correct Answer:
Verified
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