When a corporation pays a note payable and interest,
A) the account Notes Payable will be increased.
B) the account Interest Expense will be decreased.
C) they will debit Notes Payable and interest expense.
D) they will debit Cash.
Correct Answer:
Verified
Q22: The debit and credit analysis of a
Q25: The accounting equation must remain in balance
A)
Q28: Nominal accounts are also called
A)temporary accounts.
B)permanent accounts.
C)real
Q29: An optional step in the accounting cycle
Q47: An accounting record where a company initially
Q50: Equity is not affected by all
A)cash receipts.
B)dividends.
C)revenues.
D)expenses.
Q56: Basic steps in the recording process include
Q58: Revenues are
A)Impacted by debits and credits in
Q59: The trial balance will not balance when
Q59: The trial balance
A)Proves that debits are greater
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