Multiple Choice
When interest is accrued on a note payable,but not paid,the
A) Interest Expense account is increased;the Interest Payable account is increased.
B) Interest Expense account is decreased;the Interest Payable account is increased.
C) Notes Payable account is increased;the Interest Payable account is increased.
D) Interest Expense account is increased;the Interest Payable account is decreased.
Correct Answer:

Verified
Correct Answer:
Verified
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