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Barber Company lends Monroe Company $40000 on April 1, accepting a four-month, 6% interest note. Barber Company prepares financial statements on April 30. What adjusting
"Barber Company" lends Monroe Company $40000 on April 1, accepting a four-month, 6% interest note. "Barber Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared? Interest Receivable 200 Interest Revenue 200 Cash 200 Interest Revenue 200 Note Receivable 40000 Cash 40000 Interest Receivable 600 Interest Revenue 600
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