Upon collection of the amount due on an interest-bearing promissory note from a customer,the accountant would debit Cash,credit Notes Receivable,and

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When collecting on an interest-bearing promissory note, the accountant will credit the Notes Receivable account and debit the Cash account. Additionally, since there is interest being earned on the note, the accountant will credit the Interest Income account to record the interest earned. Therefore, the correct choice is to credit Interest Income (B). There is no need to record any interest expense in this transaction.

Upon Collection of the Amount Due on an Interest-Bearing Promissory