Multiple Choice
Hartford Company borrowed $20,000 on October 1,2016.Hartford issued a one year 6% discount note payable.The adjusting entry necessary to record accrued interest on December 31,2016 would include a:
A) debit to Discount on Notes Payable of $300.
B) debit to Interest Expense for $300.
C) credit to Interest Payable for $300.
D) none of these answer choices are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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