Question 14 When a corporation pays a note payable and interest Not yet answered Marked out of 1.50 P Flag question Select one: o a. credit Notes Payable and Interest Expense b. Interest Expense will be decreased C. Notes Payable will be decreased d. debit Cash Question 15 Not yet answered X, Co.purchased supplies costing $5,000 on 1/1/ 2020 and recorded the transaction by increasing assets. At the end of the year $2,000 of the supplies are used if X co make the adjusting entry for supplies what is the impact on X.co income statement at 31/12/2020 Marked out of 1.50 P Flag question Select one: a. no effects in income statement b. Expenses increased by $2,000 c. Assets decreased by $3,000 d. expenses increased by $3,000 Question 17 When a corporation Collect cash from a note receivable and interest, Not yet answered Marked out of 1.50 P Flag question Select one: a. Notes receivables will be increased b. debit Notes receivable and Interest revenue C. Interest revenue will be increased d. credit Cash