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When an Interest-Bearing Note Comes Due and Is Uncollectible,the Journal

Question 2

Multiple Choice

When an interest-bearing note comes due and is uncollectible,the journal entry includes:


A) debiting Notes Receivable; crediting Accounts Receivable.
B) debiting Notes Receivable; crediting Accounts Receivable and Interest Revenue.
C) debiting Accounts Receivable and crediting Interest Revenue.
D) debiting Accounts Receivable and crediting Notes Receivable and Interest Revenue.

Correct Answer:

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