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The accounting manager of BCV company noticed that the interest on the mortgage in June has incurred but not paid. The required adjusting journal entries to record  an annual interest of $7380 will be: Select one: a. Interest Payable $7,380 Account Payable  $7,380 b. Interest Payable  $6,765  Interest Expense  $615 Account Payable  $7,380 c. Interest Expense  $615 Interest Payable  $615 d. Interest Expense  $14,760 Cash  $14,760

The accounting manager of BCV company noticed that the interest on the mortgage in June has incurred but not paid. The required adjusting journal entries to record  an annual interest of $7380 will be: Select one: a. Interest Payable $7,380 Account Payable  $7,380 b. Interest Payable  $6,765  Interest Expense  $615 Account Payable  $7,380 c. Interest Expense  $615 Interest Payable  $615 d. Interest Expense  $14,760 Cash  $14,760

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...
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The accounting manager of BCV company noticed that the interest on the mortgage in June has incurred but not paid. The required adjusting journal entries to record  an annual interest of $7380 will be:

Select one:
a. Interest Payable $7,380
Account Payable  $7,380
b. Interest Payable  $6,765
 Interest Expense  $615
Account Payable  $7,380
c. Interest Expense  $615
Interest Payable  $615
d. Interest Expense  $14,760
Cash  $14,760
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