QUESTION 40 10 points Save Answer Record interest expense on t expense on the no

Question

QUESTION 40 10 points Save Answer Record interest expense on t expense on the note payable discussed in the above Transaction (Transaction 6AI. Transaction 64). 40. What is the amount of the interest expense? O A S4,000 OB.$8,000 O C. $3,000 O D.$1,333 OE, S800 QUESTION 41 10 points Save Answer Transaction 6B-December 31. Y4: Record interest expense on the note payable discussod in the above Transaction (Transaction 64). Q41. Indicate the account title to be debited. Acct Payable O B. Cash O C. Interest Expense 0 D. Interest Payable O E. Note Payable 10 points Save Anewer QUESTION 42 4: Record interest expense on the note payable discussed in the above Transaction (Transaction 6A)

Explanation / Answer

Account to be debited - Interest Expense

Account to be credited - Interest payable

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