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Which of the journal entries should the firm use to record

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Reference no: EM132934230

Problem 1: Suppose Kekich & Associates makes adjustment to their accounting accounts at end of each calendar month, which of the following journal entries should the firm use to record the payment of interest on 31 March 2017?

Group of answer choices

A. Dr Interest expense 480 Cr Cash 480

B. Dr Interest payable 480 Cr Interest expense 480

C. Dr Interest payable 480 Cr Cash 480

D. Dr Interest receivable 480 Cr Cash 480

Reference no: EM132934230

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