Multiple Choice
On March 1,Cents,Inc.lent $1,000 to an employee at a rate of 6% for 3 months.The entry to record the loan of $1,000 to its employee includes a:
A) credit to Cash of $1,000.
B) debit to Cash of $1,000.
C) credit to Notes Receivable of $1,000.
D) credit to Interest Revenue of $15.
E) debit to Interest Revenue of $15.
Correct Answer:
Verified
Correct Answer:
Verified
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