Currie Company lends Tam Company $20,000 on April 1, accepting a 4-month, 9% interest note. Currie Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared?

Question 47 options:

a. Note Receivable ........................20,000

Cash ...............................20,000

b. Interest Receivable ....................150

Interest Revenue ...................150

c. Cash ...................................150

Interest Revenue ...................150

d. Interest Receivable ....................600

Interest Revenue ...................600