Referring to Table 2, the adjusting entry on December 31, 20X5, would include a:
A. debit to interest expense for $40
B. credit to interest payable for $160
C. debit to interest payable for $120
D. debit to interest expense for $120
Answer:D
Referring to Table 2, the adjusting entry on December 31, 20X5, would include a:
A. debit to interest expense for $40 B. credit to interest payable for $160 C. debit to interest payable for $120 D. debit to interest expense for $120