Question
Kaiven Company accepted a $12,000, 60-day, 6% note on December 21 from Diaz Co, granting a time extension on his past-due account receivable. The adjusting
Kaiven Company accepted a $12,000, 60-day, 6% note on December 21 from Diaz Co, granting a time extension on his past-due account receivable. The adjusting entry on December 31 would include a debit to:
A. Interest Revenue for $120.
B. Interest Receivable for $20.
C. Interest Receivable for $120.
D. Interest Revenue for $20.
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Auditing Theory And Practice
Authors: Jerry R. Strawser, Robert H. Strawser
9th Edition
0873939336, 978-0873939331
