Ask a New Question

Is the interest on a note receivables recorded if paid prior to the due date?

A. Debit to interest expense
B. debit to interest payable
C. Credit to interest receivable
D. Credit interest expense
I think it's A since it's before the maturity date.

Ask a New Question or answer this question.

Similar Questions

the long-term note payable bears an interest of 12% per year. theunadjusted interest expense account equals the amount paid for
1. 0 answers
On April 1, 2013, Ringo Company borrowed $20,000 from its bank by using a 9%, 12 month note, with the interest to be paid on the
1. 1 answer
On April 1, 2013, Ringo Company borrowed $20,000 from its bank by using a 9%, 12 month note, with the interest to be paid on the
1. 1 answer
lisa borrowed $8000.00 on an 8%, 60 day note after 15 days she paid $2000.00 on the note , on day 45 , she paid $1000.00 on the
1. 0 answers

more similar questions