Question
On October 1, 2016, Fairbanks Company accepted from a customer a four-month, 15 percent note for $1,000. As of December 31, 2016, the adjusting entry
On October 1, 2016, Fairbanks Company accepted from a customer a four-month, 15 percent note for $1,000. As of December 31, 2016, the adjusting entry to record the accrued interest on the note receivable would include a debit to Interest Receivable for:
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Clyde P. Stickney, Roman L. Weil
10th Edition
0324183518, 978-0324183511
