The amortization of premium on notes receivable is a. deduction from accrued interest receivable b. an addition to interest income c. an addition to accrued interest receivable d. a deduction from interest income

The amortization of premium on notes receivable is a. deduction from accrued interest receivable b. an addition to interest income c. an addition to accrued interest receivable d. a deduction from interest income

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 10RQ: On which notes receivable and notes payable is it necessary to record accrued interest at the end of...

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Question

The amortization of premium on notes receivable is

a. deduction from accrued interest receivable
b. an addition to interest income
c. an addition to accrued interest receivable
d. a deduction from interest income

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