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On August 1, Gulfdream Aviation accepted a note receivable from Stardust Enterprises. It was a six-month 12% interest note for $10,000. After five months at

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On August 1, Gulfdream Aviation accepted a note receivable from Stardust Enterprises. It was a six-month 12% interest note for $10,000. After five months at the end of the year, Gulfdream prepared financial statements. Stardust has not yet paid the note off. Which entry vill Gulfdream make after five months? Debit Interest receivable $1,200 Credit Note receivable $1,200 Gulfdream should make no entries at the end of the year, they make no entries until the note is paid in full. Debit Interest receivable $1,200 Credit Interest revenue $1,200 Debit Interest receivable $600 Credit Interest revenue $600 Debit. Interest receivable $500

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