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Husemann Co.'s assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged $45,100, and the interest rate of the notes

Husemann Co.'s assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged $45,100, and the interest rate of the notes averaged 8.4%.Prepare a horizontal model that accrues the interest revenue earned from the notes. (Use amounts with + for increases and amounts with for decreases)

Balance Sheet

Assets

=

Liabilities

Stockholders Equity

Net income =

Revenues

-

Expenses

  • Cash
  • Depreciation expense
  • Interest receivable
  • Interest revenue
  • Note Receivable

$

  • Cash
  • Depreciation expense
  • Interest receivable
  • Interest revenue

Note Receivable

$

  • Cash
  • Depreciation expense
  • Interest receivable
  • Interest revenue

Note Receivable

  • $
  • Cash
  • Depreciation expense
  • Interest receivable
  • Interest revenue
  • Note Receivable
  • $

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