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On November 19, Nicholson Company receives a $22,200 60-day 10% note from a customer as payment on account. What adjusting entry should be made on
On November 19, Nicholson Company receives a $22,200 60-day 10% note from a customer as payment on account. What adjusting entry should be made on the December 31 year-end? (Use 360 days a year Multiple Choice Debit Interest Receivable $259, credit Interest Revenue $259 Debit Interest Revenue $370 credit Interest Receivable $370 Debit Notes Receivable $259, credit Interest Receivable $259 Debit Interest Receivable $370, credit Interest Revenue $370 Debit Notes Receivable $111, credit Interest Revenue $111
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