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2 Houston Outfitters lends BlackTar Industries $30,000 on August 1, 2013, accepting a 9-month, 12% interest note. Houston Outfitters prepares its financial statements as of
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Houston Outfitters lends BlackTar Industries $30,000 on August 1, 2013, accepting a 9-month, 12% interest note. Houston Outfitters prepares its financial statements as of December 31, 2013, what adjusting entry must it make? Interest Receivable $1,500 $1,500 Interest Revenue Accounts Receivable $1,500 Interest Receivable $1,500 a Notes Receivable $1,500 $1,500 Interest Revenue $1,500 Cash Interest Revenue $1,500Step by Step Solution
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