Multiple Choice
The adjusting entry to record accrued interest on a note receivable due next year consists of a
A) debit to Interest Expense and a credit to Interest Payable.
B) debit to Interest Receivable and a credit to Interest Revenue.
C) debit to Interest Expense and a credit to Interest Receivable.
D) debit to Interest Receivable and a credit to Cash.
Correct Answer:
Verified
Correct Answer:
Verified
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