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Neo
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Category: Homework
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Experience:  BS Accounting
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As interest is recorded on an interest-bearing note, the ...

Customer Question

As interest is recorded on an interest-bearing note, the Interest Expense account is ________.
       A. decreased; the Interest Payable account is increased
       B. increased; the Interest Payable account is increased
       C. increased; the Notes Payable account is decreased
       D. increased; the Notes Payable account is increased
Submitted: 8 years ago.
Category: Homework
Expert:  Neo replied 8 years ago.

Hello,

Good day!

Welcome to JustAnswer!

As interest is recorded on an interest-bearing note, the Interest Expense account is: B. increased; the Interest Payable account is increased

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Expert:  Manal Elkhoshkhany replied 8 years ago.

Hello Badbush and welcome to Just answer

The correct choice is:

D. increased; the Notes Payable account is increased

Please feel free to address your future posts to me specifically by typing "For BusinessTutor" at the beginning of your post.

Kindly leave feedback

Customer: replied 8 years ago.
Reply to BusinessTutor's Post: B. is not possible?
Customer: replied 8 years ago.
Reply to Neo's Post: I thought the answer was C. How did you come up with the answer of B and not C? Just trying to understand what I was thinking and why B is correct.
Expert:  Manal Elkhoshkhany replied 8 years ago.

Hello Bad bush

It is my fault, I misread the question

Neo's answer is the correct one. It is B, I am the one who confused you and I apologize for that.

Expert:  Neo replied 8 years ago.
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Neo, Tutor
Category: Homework
Satisfied Customers: 12101
Experience: BS Accounting
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