Multiple Choice
A buyer pays a note in full on its maturity date. The buyer would record a:
A) debit to Cash; credit to Interest Income; credit to Notes Receivable.
B) debit to Interest Expense; credit to Cash; credit to Notes Payable.
C) debit to Notes Receivable; credit to Cash; credit to Interest Income.
D) debit to Interest Expense; debit to Notes Payable; credit to Cash.
Correct Answer:

Verified
Correct Answer:
Verified
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