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Kenn Co borrowed $450,000 to Lyon Corp on December 1, 2019 and received a 6-month, 8% interest-bearing note with a face value of $450,000. What

Kenn Co borrowed $450,000 to Lyon Corp on December 1, 2019 and received a 6-month, 8% interest-bearing note with a face value of $450,000. What adjusting entry should Starr make on December 31, 2019?

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Debit Interest Receivable and credit Interest Revenue, $11,250.

Debit Cash and credit Interest Revenue, $11,250.

Debit Interest Receivable and credit Interest Revenue, $3,750.

Debit Cash and credit Interest Receivable, $3,000.

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