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On July 8, Jones Inc. issued an $82,300,6%., 120-day note payable to Miler Company, Assume that the fiscal year of Jones ends July 31. Using
On July 8, Jones Inc. issued an $82,300,6%., 120-day note payable to Miler Company, Assume that the fiscal year of Jones ends July 31. Using a 360-day year, what is the amount of Interest expense recognized by Jones in the current fiscal year? When required, round your answer to the nearest dollar, O.. 34,333 Ob. 1945 O. 30 Od. 5315 Harper Company lends Hewell Company $9,600 on March 1, accepting a four-month, 45 interest note. Harper Company prepares financial statements on March 31. What adjusting entry should be made before the financial statements can be prepared? Oa Cash 32 Interest Revenue 32 Ob Interest Receivable 128 Interest Revenue 128 Oc Interest Receivable 32 Interest Revenue OdNote Receivable 9,600 Cash 9,000
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