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Joes Home Improvement Centre charges 19% interest on all unpaid Joes credit card transactions beyond 30 days. On September 30, Rico failed to pay off
Joes Home Improvement Centre charges 19% interest on all unpaid Joes credit card transactions beyond 30 days. On September 30, Rico failed to pay off his Joes credit card balance of $6,500. What adjusting entry would be recorded by Joe on September 30 for Ricos unpaid credit card? Debit to Credit Card Receivable and credit to Interest Revenue for $101.51. Debit to Accounts Receivable and credit to Sales Revenue for $6,500. Debit to Accounts Receivable and credit to Interest Revenue for $101.51. Debit to Credit Card Receivable and a credit to Sales Revenue for $6,500
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