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Refer to Table 11-11. What is the correct adjusting journal entry on December 31, 2013?

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Refer to Table 11-11. What is the correct adjusting journal entry on December 31, 2013?

Refer to Table 11-11. What is the correct adjusting journal entry on December 31, 2013?
A)
Interest revenue    2,400
Interest payable       2,400

B)
Interest expense    2,592
Interest payable      2,592

C)
Interest expense    2,400
Interest payable       2,400

D)
Interest receivable    2,400
Interest revenue       2,400

Textbook

Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition

Edition: 9^th

Authors: Horngren, Harrison, Johnston, Meissner, Norwood

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