When a note is dishonored, the payee's entry includes a:
a. credit to Accounts Receivable.
b. credit to Interest Income.
c. debit to Notes Receivable.
d. debit to Interest Expense.
b
You might also like to view...
BI software has become so popular in large companies that Microsoft decided to integrate such software into its popular database management system, _____.
A. SQL Server B. MySQL C. DB2 D. DBMS
The formulation and enforcement of antitrust policy have been substantially affected by the disciplines of ________ and ________
A) economics; ethics B) sociology; economics C) sociology; law D) law; economics
If a party to a contract anticipatorily repudiates a contract, then:
A) That repudiation may be retracted only if the aggrieved party has not changed its position, canceled the contract, or otherwise indicated that the repudiation is final. B) That repudiation may not be retracted. C) That repudiation may be retracted under any circumstances. D) That repudiation may be retracted only with the consent of the other party.
Under the Revised Act, Bentry Corporation's transfer of some of its assets to its wholly owned subsidiary is considered a sale in the regular course of business
a. True b. False Indicate whether the statement is true or false