At the end of the year, the following interest is earned, but not yet received. Record the
Question:
At the end of the year, the following interest is earned, but not yet received. Record the adjusting entry in a general journal.
Interest on $4,000, 90-day, 12% note (for 15 days) ... $20.00
Interest on $7,000, 60-day, 11% note (for 18 days) ..... 38.50
$58.50
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