An Adjusting Entry Made to Record Accrued Interest on a Note

Multiple Choice

An adjusting entry made to record accrued interest on a note payable due next year consists of

A) Cash - Debit; Interest Expense - Credit.
B) Interest Receivable - Debit; Interest Income - Credit.
C) Interest Payable - Debit; Interest Expense - Credit.
D) Interest Expense - Debit; Interest Payable - Credit.