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ABC lends Evergreen Inc. $40,000 on June 1, accepting a four-month, 6% interest note. ABC prepares financial statement on June 30 . Which of the

ABC

lends Evergreen Inc.

$40,000

on June 1, accepting a four-month,

6%

interest note.

ABC

prepares financial statement on June 30 .\ Which of the following represents correct adjusting entry pertaining this promissory note?\ Debit Note Receivable

$40,000

\ Credit Interest Revenue

$600

\ debit Interest Receivable

$200

\ Debit Cash

$600
image text in transcribed
ABC lends Evergreen Inc. $40,000 on June 1, accepting a four-month, 6% interest note. ABC prepares financial statement on June 30. Which of the following represents correct adjusting entry pertaining this promissory note? Debit Note Receivable $40,000 Credit Interest Revenue $600 debit Interest Receivable $200 Debit Cash $600

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