Question
Hardwood accepted a note from Jordan on Sept. 1st. What entry should Hardwood make on December 31, to record the accrued interst on the note?
Hardwood accepted a note from Jordan on Sept. 1st. What entry should Hardwood make on December 31, to record the accrued interst on the note?
Multiple Choice
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Debit Notes Receivable; credit Cash
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Debit Interest Receivable; credit Interest Revenue
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Debit Interest Revenue; credit Interest Receivable
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Debit Cash; credit Notes Receivable
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Auditing For Managers The Ultimate Risk Management Tool
Authors: K. H. Spencer Pickett, Jennifer M. Pickett
1st Edition
0470090987, 978-0470090985
