Question: The adjusting entry to record accrued interest on a note payable requires a debit to Interest Income and a credit to Notes Payable. Interest Payable

The adjusting entry to record accrued interest on a note payable requires a debit to Interest Income and a credit to Notes Payable. Interest Payable and a credit to Interest Expense. Interest Expense and a credit to Cash. Interest Expense and a credit to Interest Payable

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