Multiple Choice
The entry to record the cash received on a note discounted at less than face value is to:
A) debit Cash,credit Interest Income,and credit Notes Receivable.
B) debit Cash,debit Interest Expense,and credit Notes Receivable.
C) debit Cash and credit Interest Expense.
D) debit Notes Receivable and credit Cash.
Correct Answer:
Verified
Correct Answer:
Verified
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