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Question 19 (0.5 points) Garber Company lends Newell Company $20,000 on April 1, accepting a four-month, 6% interest note. Garber Company prepares financial statements on
Question 19 (0.5 points) Garber Company lends Newell Company $20,000 on April 1, accepting a four-month, 6% interest note. Garber Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared? Debit Note Receivable $20,000; credit Cash $20,000 Debit Interest Receivable $100; credit Interest Revenue $100 O Debit Cash $100; credit Interest Revenue $ 100 Debit Interest Receivable $300; credit Interest Revenue $300
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