Question
JOURNAL ENTRIES: What is the adjusting journal entry to record the accrual of $500 of unpaid interest on a note payable? a. Dr. Interest Payable
JOURNAL ENTRIES: What is the adjusting journal entry to record the accrual of $500 of unpaid interest on a note payable?
| a. Dr. Interest Payable 500; Cr. Interest Expense 500 | ||
| b. Dr. Interest Revenue 500; Cr. Cash 500 | ||
| c. Dr. Cash 500; Cr. Interest Receivable 500 | ||
| d. Dr. Interest Receivable 500; Cr. Cash 500 | ||
| e. None of the above |
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
5th edition
978-1259728877, 1259728870, 978-1259565403
