Question
HCF, a finance company, lends Able Business $2,400 at 5% for three months on December 1, 2015. HCF's adjusting entry on December 31, 2015, should
HCF, a finance company, lends Able Business $2,400 at 5% for three months on December 1, 2015. HCF's adjusting entry on December 31, 2015, should include:
a.
A debit to Cash for $10.
b.
A credit to Interest Revenue for $10.
c.
A credit to Interest Receivable for $10.
d.
A debit to Interest Revenue for $10
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
