Refer to the information in BE312. (1) Record the lending for Falcon on July 1, 2021. (2)

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Refer to the information in BE3–12.

(1) Record the lending for Falcon on July 1, 2021.

(2) Record the adjusting entry for Falcon on December 31, 2021.

(3) Calculate the 2021 year-end adjusted balances of Interest Receivable and Interest Revenue (assuming the balance of Interest Receivable at the beginning of the year is $0).

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Financial Accounting

ISBN: 978-1259914898

5th edition

Authors: David Spiceland, Wayne M. Thomas, Don Herrmann

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Question Posted: Jul 19, 2024 04:01 PM

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Refer to the information in BE312. (1) Record the lending for Falcon on July 1, 2021. (2)

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1 Jul 1 2021 Debit Credit Notes Receivable 15000 Cash 15000 Lend cash 2 Dec ...View the full answer

Financial Accounting

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