Question: Journal entry a company uses to record the payment of an interested bearing note is 1. Debit Notes Payable and Interest Receivable, credit cash 2.

Journal entry a company uses to record the payment of an interested bearing note is
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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