Interest earned on a note receivable at December 31 equals $375. What adjusting entry is required to

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Interest earned on a note receivable at December 31 equals $375. What adjusting entry is required to accrue this interest?

a. Interest Expense 375 Interest Payable 375

b. Interest Receivable 375 Interest Revenue 375

c. Interest Payable 375 Interest Expense 375

d. Interest Expense 375 Cash 375

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Financial Accounting International Financial Reporting Standards

ISBN: 9780273777809

1st Global Edition

Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy

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Question Posted: Jul 26, 2024 03:00 AM

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Interest earned on a note receivable at December 31 equals $375. What adjusting entry is required to

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Financial Accounting International Financial Reporting Standards

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