The accrued interest should be:
A)Debited to Notes Payable.
B)Credited to Interest Payable.
C)Credited to Cash.
D)Credited to Interest Expense.

Name: The accrued interest should be: A)Debited to Notes Payable. B)Credited to Interest Payable. C)Credited to Cash. D)Credited to Interest Expense.
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Question

Quizplus · Accepted Answer

Accrued interest is an expense that has been incurred but not yet paid, so it should be credited to Interest Payable, which is a liability account.

The Accrued Interest Should Be