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On December 31, Price Company has earned interest revenue of $1,300 on outstanding notes, even though the company will not actually receive the interest until

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On December 31, Price Company has earned interest revenue of $1,300 on outstanding notes, even though the company will not actually receive the interest until the following year. Required: Journalize the adjusting entry on December 31. Date Account Title Debit Credit Dec. 31 Interest Receivable Interest Revenue

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