multiple choice question\nan adjusting entry to accrue for interest earned is often needed when a company…
multiple choice question\nan adjusting entry to accrue for interest earned is often needed when a company has ______.\no notes payable\no notes receivable\no accounts receivable
Answer
Brief Explanations:
When a company has Notes Receivable, it may earn interest over time that has not yet been received or recorded. An adjusting - entry is needed to accrue this interest revenue. Notes Payable relate to interest expense accrual, and Accounts Receivable are for amounts due from customers for goods or services, not typically for interest - related adjusting entries.
Answer:
B. Notes Receivable