Multiple Choice
HCF,a finance company,lends Able Business $12,000 at 5% on December 1,2015.HCF's adjusting entry on December 31,2015,should include:
A) A debit to Interest Earned for $50.
B) A credit to Interest Receivable for $50.
C) A credit to Interest Earned for $50.
D) A debit to Cash for $600.
E) A debit to Interest Expense for $600.
Correct Answer:
Verified
Correct Answer:
Verified
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