On December 31, 2023, Rexall Industries recorded an adjusting entry for $10,000 of accrued interest revenue. On
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On December 31, 2023, Rexall Industries recorded an adjusting entry for $10,000 of accrued interest revenue. On January 15, 2024, the company received interest payments in the amount of $22,000. Assuming Rexall Industries uses reversing entries, prepare the 2023 and 2024 journal entries for these interest transactions.
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Here are the journal entries for Rexall Industries for the interest transactions Adjusting entry on ...View the full answer
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Related Book For 
Horngrens Accounting Volume 1
ISBN: 9780135359709
11th Canadian Edition
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood
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