Journal entry a company uses to record the payment of an interested bearing note is 1. Debit
Question:
1. Debit Notes Payable and Interest Receivable, credit cash
2. Debit Notes Payable and Interest Expense, credit cash
3. Debit Cash, Credit Notes payable
4. Debit accounts payable, credit cash.
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Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
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