1.Comet Company received aone-year,$12,000,9%notefrom ABC Corporation on April 1,2010.The fiscalperiod ends on Dec 31, 2010. Thejournal entry...
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1.Comet Company received aone-year,$12,000,9%notefrom ABC Corporation on April 1,2010.The fiscalperiod ends on Dec 31, 2010. Thejournal entry recorded by Comet Company on Dec 31, 2010 will include a:
Debit to Note Receivable for $13,080
Debit to Cash for $12,000
Credit to Interest Revenue for $1,080
Credit to Interest Revenue for $810
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