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1. The interest on a $5,400, 3%, 45-day note is a. $2.03. b. $19.97 C. $20.25. d. $202.50 2. The adjusting entry for accrued interest

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1. The interest on a $5,400, 3%, 45-day note is a. $2.03. b. $19.97 C. $20.25. d. $202.50 2. The adjusting entry for accrued interest on a note receivable would include a a. debit; Cash b. debit; Interest Expense c. credit; Interest Revenue d. debit; Notes Receivable

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