Financial accounting

The adjusting entry to record interest owed on obligations at the end of the accounting period includes a debit to Click the answer you think is right. Interest Payable and credit to Interest Expense Interest Expense and credit to Interest Payable Interest Revenue and credit to Interest Receivable Interest Receivable and credit to Interest Revenue Interest Expense and credit to Notes Payable After the adjustments have been completed, the adjusted balance in the Interest Payable account represents Click the answer you think is right. Interest that has been prepaid on existing debt at the end of the period interest on notes receivable owed to the company interest that has accrued, but has not been paid, at the end of the period total interest that has been paid or accrued during the period Read about this D o know the