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mestny [16]
3 years ago
9

Which of the following statements is correct regarding the adjusting entry to record interest accrued on a note payable?

Business
1 answer:
WARRIOR [948]3 years ago
5 0

Answer:

b. Interest on a note payable should be credited to Notes Payable because it increases the amount of principal to be repaid at the maturity of the note.

Explanation:

Interest accrued on a note payable journal entry :

Debit  : Interest Payable

Credit : Note Payable

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Answer:

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