1. the entry to journalize the reversing entry for accrued interest expense is (a) debit income summary; credit interest expense. (b) debit interest payable; credit income summary. (c) debit interest expense; credit income summary. (d) debit interest payable; credit interest expense.

the correct answer is (D) debit Interest Payable; credit Interest Expense

Explanation:

Interest payable is the amount of interest that is been owed. The usual journal entry used to record this transaction is a debit to the interest payable account and a credit to the interest Expense.

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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