What is the amount of the interest expense $16,000 $8,000 $4,000 $1,333 $800 Ind

Question

What is the amount of the interest expense $16,000 $8,000 $4,000 $1,333 $800 Indicate the account title to be debited. Acct Payable Cash Interest Expense Interest Payable Note Payable Indicate the account title to be credited. Acct Payable Cash Interest Expense Interest Payable Note Payable What is the amount of the interest expense $16,000 $8,000 $4,000 $1,333 $800 Indicate the account title to be debited. Acct Payable Cash Interest Expense Interest Payable Note Payable Indicate the account title to be credited. Acct Payable Cash Interest Expense Interest Payable Note Payable

Explanation / Answer

You have not posted transaction 4A

For Q.35 you need to post Tansaction 4A otherwise Interest expense amount cannot be calculated

Q.36

For interest expense on Notes Payable you need to debit Interest expense account i.e. option C

Q.37

Since transaction 4A is not posted by you i dont know the complete scenario i.e whether interest is paid or not mostly it must not have been paid and therefore the answer should be Interest payable a/c i.e. account tilte to be credited is Interest payable option D

But if it is given in question (Transaction 4A) that the interest is paid then account title to be credited is Cash i.e. option B

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