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JJ Co offers bungee jumping or hose looking or an extreme activ prepares annual financial statements and has a December 3 Jurassic Jumpers ear-end. o
JJ Co offers bungee jumping or hose looking or an extreme activ prepares annual financial statements and has a December 3 Jurassic Jumpers ear-end. o a. On April 1, 2017, JJ Co. took out a five-year, $690,000 bank loan with an interest rate of 3%. Interest expense is paid on the first day of each month. b. On July 1, 2017, JJ Co. issued a two-year, $57,000 Note Receivable with an interest rate of 4%. Interest income will be collected on January 1 and July 1 of each year. c. On December 15, 2017, JJ Co. took a university student club bungee jumping for $1,850. The student club was invoiced on 31 December 2017 and pays JJ Co. on January 15, 2018 Required: Record the adjusting journal entries at December 31, 2017. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list X: Import a new list 1 Record accrued interest expense 2 Record accrued interest revenue 3 Record accrued revenue
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