Question
Agrico Incorporated accepted a 10-month, 14% (annual rate), $4,300 note from one of its customers on July 15, 2022; Interest is payable with the
Agrico Incorporated accepted a 10-month, 14% (annual rate), $4,300 note from one of its customers on July 15, 2022; Interest is payable with the principal at maturity. Required: a-1. Prepare the horizontal model to record the interest earned by Agrico during its year ended December 31, 2022 Note: Enter decreases to account balances with a minus sign. Do not round your intermediate calculation. Round your final answers to two decimal places. Interest receivable Assets 331.10 Balance Sheet Liabilities Stockholders' Equity Answer
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