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33. Yang Company lends Dobbs Industries $40,000 on August 1, 2017, acepting a 9-month note (a) What is the total amount of interest that Dobbs
33. Yang Company lends Dobbs Industries $40,000 on August 1, 2017, acepting a 9-month note (a) What is the total amount of interest that Dobbs will owe to Yang Company? (b) When Yang prepares its financial statements on December 31, 2017, what adjusting journal entry wil it need to make? Assume no interests accruals have been recorded since August 1, 2017. (c) What entry will Yang make to record the collection of the note and interest at its maturity date? Assume no adjusting entries have been made since December 31, 2017
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