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If a Bank Statement Included a Bank Collection of a Note

Question 109

Multiple Choice

If a bank statement included a bank collection of a note receivable and the related interest revenue,the journal entry to record this item should include a:


A) debit to Note Receivable and a credit to Cash.
B) debit to Cash and a credit to Note Receivable.
C) debit to Cash,credit to Note Receivable,and credit to Interest Revenue.
D) debit to Note Payable,credit to Cash and credit to Interest Revenue.

Correct Answer:

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