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    jharsin's Avatar
    jharsin Posts: 8, Reputation: 1
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    #1

    Oct 13, 2007, 07:58 PM
    Accounting adjusting entry
    An adjusting entry made to record accrued interest on a note payable due next year consists of a debit made to

    A. interest expense and a credit to cash
    b. interest recievable and a credit to interest income
    c,interest expense and a credit to notes payable
    d.interest expense and a credit to interest payable
    newlen5990's Avatar
    newlen5990 Posts: 9, Reputation: 2
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    #2

    Oct 14, 2007, 04:47 AM
    The debit is definitely interest expense, and the credit is to interest payable because it is not due until next year so D
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