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Question 1 10 pts The following information was taken from the accounting records of JBD Company as of December 31, 2020: Inventory Accounts Payable Common
Question 1 10 pts The following information was taken from the accounting records of JBD Company as of December 31, 2020: Inventory Accounts Payable Common Stock Accounts Receivable Retained Earnings Copyright Salaries Expense Supplies Mortgage payable Land Notes Payable Sales Revenue Equipment Income Tax Expense Cost of Goods Sold Salaries Payable Cash Accumulated Depreciation Trademark Dividends Interest revenue $17,600 $36,880 $72,000 $11,680 $25,888 (at January 1, 2020) $15,888 $35,000 $10,888 $80,000 (due March 1, 2040) $99,888 $54,000 (due November 1, 2022) $89,880 $85,000 $10,000 $42,000 ? ? ? ? ? ? Additional information: 1) Total current assets at December 31, 2e2e are equal to 50% of the total assets at December 31, 2020. 2) 75% of JBD's 2020 net income was paid to stockholders as dividends. 3) Total long-term liabilities at December 31, 2020 are equal to total current liabilities at December 31, 2020. 4) Total equity at December 31, 2020 is equal to 58% of the total liabilities at December 31, 2e2e. Calculate the balance in the interest revenue account at December 31, 2020
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