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E5-45B. (Learning Objective 4: Recording notes receivable and accruing interest revenue) Record the following note receivable transactions in the journal of Celtic Realty. How
E5-45B. (Learning Objective 4: Recording notes receivable and accruing interest revenue) Record the following note receivable transactions in the journal of Celtic Realty. How much in- terest revenue did Celtic earn this year? Use a 365-day year for interest computations, and round interest amounts to the nearest dollar. LO Apr. 1 Jun. 6 16 30 Loaned $18,000 cash to Boyle Denvers on a one-year 10% note. Performed service for Pot Masters, receiving a 90-day, 8% note for $15,000. Received a $4,000, six-month, 12% note on account from Veron, Inc. Accrued interest revenue for the year..
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