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Lucas's Gaming Emporium holds an investment 8,000,000 earning 4% interest per annum. The Emporium's year end is November 30th, but the investment's maturity date
Lucas's Gaming Emporium holds an investment 8,000,000 earning 4% interest per annum. The Emporium's year end is November 30th, but the investment's maturity date is not until February 28. What would the year end adjustment be? Select one: Oa. Interest Expense DR 80,000 Interest Income CR 80,000 Ob. There is no adjustment, the interest would be recognized on March 31. c. Accrued Interest DR 80,000 Interest Income CR 80,000 Od. Interest Expense DR 80,000 Accrued Interest CR 80,000 Clear my choice
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