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On September 15,2024 , Oliver's Mortuary received a $6,000 note from the estate of Jay Hendrix in exchange for services rendered. Terms of the note
On September 15,2024 , Oliver's Mortuary received a
$6,000 note from the estate of Jay Hendrix in exchange for services rendered. Terms of the note call for the payment of principal, and interest at
10% in nine months. Oliver's has a December 31 year-end. What adjusting entry will the company record on December 31, 2024?\ Multiple Choice\ \\\\table[[Account Title,Debit,Credit],[Interest receivable,230,],[Interest revenue,,230]]\ \\\\table[[Account Title,Debit,Credit],[Interest receivable,600,],[Interest revenue,,175],[Cash,,425]]
On September 15,2024 , Oliver's Mortuary received a $6,000 note from the estate of Jay Hendrix in exchange for services rendered. Terms of the note call for the payment of principal, and interest at 10% in nine months. Oliver's has a December 31 year-end. What adjusting entry will the company record on December 31, 2024? Multiple Choice
On September 15,2024 , Oliver's Mortuary received a
$6,000note from the estate of Jay Hendrix in exchange for services rendered. Terms of the note call for the payment of principal, and interest at
10%in nine months. Oliver's has a December 31 year-end. What adjusting entry will the company record on December 31, 2024?\ Multiple Choice\ \\\\table[[Account Title,Debit,Credit],[Interest receivable,230,],[Interest revenue,,230]]\ \\\\table[[Account Title,Debit,Credit],[Interest receivable,600,],[Interest revenue,,175],[Cash,,425]]
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