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Food Service Distributors, Inc., accepts a 9 0 - day, 8 % note receivable for $ 7 5 , 0 0 0 on September 1

Food Service Distributors, Inc., accepts a

90 -

day,

8 %

note receivable for $

75, 000

on September

1

in exchange for an account receivable due from Fresh Food, Inc. Food Service Distributors prepares financial statements

(

and makes adjusting entries

)

quarterly. On the date the note is collected, Interest Revenue is credited for $

___

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