Which of the following occurs when a company records accrued interest expense on a note payable?
A)Cash is debited.
B)Interest expense is credited.
C)Interest payable is credited.
D)Note payable is credited.

Question

Quizplus · Accepted Answer

When a company records accrued interest expense, it credits interest payable to recognize the liability that has been incurred but not yet paid.

Which of the Following Occurs When a Company Records Accrued