Multiple Choice
On December 9, A issues a 60-day promissory note to B. The December 31 adjusting entry for A is
A) Interest Payable - Debit; Cash - Credit
B) Interest Receivable - Debit; Interest Income - Credit
C) Interest Expense - Debit; Cash - Credit
D) Interest Expense - Debit; Interest Payable - Credit
Correct Answer:
Verified
Correct Answer:
Verified
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