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Lemming makes an $18,750,120-day, 8% cash loan to Notions Company on November 1 . Lemming's end-of-period adjusting entry on December 31 should be: Multiple Choice

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Lemming makes an $18,750,120-day, 8% cash loan to Notions Company on November 1 . Lemming's end-of-period adjusting entry on December 31 should be: Multiple Choice Debit Cash for $250; credit Notes Recelvable $250. Debit Interest Revenue $500; credit Notes Recelvable $500. Debit Interest Recelvable $250; credit Interest Revenue $250. Debit Interest Recelvable $500; credit Interest Revenue $500. Debit Notes ReceIvable $500; credit Interest Revenue $500

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