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End of Semester Test:
ПВА
6
Select the correct answer.
Stears Corp. paid interest on loan of $3,500 by check. What will the entry in the journal of the company be?
OA. Interest on Loan account (debit) Cash in Bank account (credit)
ОВ. .
Cash in Bank account (debit) Interest on Loan account (credit)
Ос. .
Interest on Loan account (debit) Loan account (credit)
OD.
Loan account (debit) Interest on Loan account (credit)
OE.
Loan account (debit) Cash in Bank account (credit)
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