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PLEASE help! will thumbs up!! Magnate company purchased an investment in October that will pay interest at maturity at the end of February of $500.
PLEASE help! will thumbs up!!
Magnate company purchased an investment in October that will pay interest at maturity at the end of February of $500. $300 of this interest is earned by Magnate by December 31 st, its year end. What will be included in Magnate's year-end adjusting journal entry related to this investment? Debit Cash =$300 Credit Interest Revenue $300. Debit Interest Revenue - $500. Debit Interest Revenue $300. Question 13 Stephenson Realty Company purchased $197,000 of land with a $100,000 cash down payment and the balance on account. By how much did total assets change? Decrease $50,000. Increase \$97.000. Increase $147,000. Increase $197,000 Step by Step Solution
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