Multiple Choice
A note receivable is issued in December, with interest due at maturity.When the note is paid the following February, the payee's entry includes (assuming a calendar-year accounting period when adjusting entries are recorded) a
A) credit to Interest Receivable.
B) credit to Cash.
C) debit to Notes Receivable.
D) debit to Interest Income.
Correct Answer:

Verified
Correct Answer:
Verified
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