Which of the following statements is false regarding the allWhich of the following statements about interest on the Capital Account is false? Select one:
A. The interest rate is specified in the Partnership Agreement.
B. Interest paid on Capital Account balances is treated as a form of profit allocation like salary.
C. The journal entry to record the payment of interest on Capital Account balances involves a debit to interest expense.
D. Interest paid on Capital Account balances is not treated like interest on debt for accounting purposes.