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9. On February 1, Jones Company loans out $4,000 to a customer, accepting a 6%, 2-year note. Assume Jones makes adjusting entries quarterly. What
9. On February 1, Jones Company loans out $4,000 to a customer, accepting a 6%, 2-year note. Assume Jones makes adjusting entries quarterly. What account will Jones debit in its March 31 adjusting entry? 10. For #10, what dollar amount will be recorded in the March 31 adjusting entry?
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Financial Accounting Theory
Authors: William R. Scott
7th edition
132984660, 978-0132984669
