For each item listed, select the section of the balance sheet in which the item would be reported.
-Interest payable
A)Current Assets
B)Property.Plant, and Equipment
C)Current Liabilities
D)Long-term Liabilities
E)Stockholders' Equity

Question

Quizplus · Accepted Answer

Interest payable is a liability that represents the amount of interest that a company owes but has not yet paid. It is reported in the current liabilities section of the balance sheet.

For Each Item Listed, Select the Section of the Balance