Coasters Co. issued a note receivable to a customer. The customer made payment, principal and interest, directly to the Coaster’s bank. What would be included in the journal entry to adjust for this payment? Debit to interest expense Debit to notes receivable Credit to interest income No journal entry needed Credit to cash

Coasters Co. issued a note receivable to a customer. The customer made payment, principal and interest, directly to the Coaster’s bank. What would be included in the journal entry to adjust for this payment? Debit to interest expense Debit to notes receivable Credit to interest income No journal entry needed Credit to cash

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 24MC: You just posted a credit to Accounts Receivable. Which special journal did it come from? A. sales...

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