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5. On November 1, Willis Corporation sold merchandise in return for a 6%, three-month note receivable in the amount of $60,000. The proper adjusting entry

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5. On November 1, Willis Corporation sold merchandise in return for a 6%, three-month note receivable in the amount of $60,000. The proper adjusting entry at December 31 (end of Willis' fiscal year) includes a: * (3 Points) Debit to Interest Receivable of $300. Credit to Notes Receivable of $900. Debit to Cash of $600 Credit to Interest Revenue of $600

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