Multiple Choice
The journal entry to record accrued interest on a short-term note payable must include a debit to:
A) Interest Payable and a credit to Cash.
B) Interest Expense and a credit to Cash.
C) Interest Expense and a credit to Interest Payable.
D) Interest Payable and a credit to Notes Payable.
Correct Answer:
Verified
Correct Answer:
Verified
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