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At December 31 year-end, Connor Company has a $9,500 note receivable from a customer. Interest of 12% has accrued for 8 months on the note.
At December 31 year-end, Connor Company has a $9,500 note receivable from a customer. Interest of 12% has accrued for 8 months on the note. What will Connor's financial statements report for this situation at December 31? O A. The balance sheet will report the note receivable of $9,500. OB. The income statement will report a note receivable of $9,500 OC. Nothing because the business has not received the cash yet. OD. The balance sheet will report the note receivable of $9,500 and interest receivable of $760
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