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QUESTION 5 On June 1, 2018, ABC Company acquired an 8%, ten-month note receivable from a customer in settlement of an existing account receivable of

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QUESTION 5 On June 1, 2018, ABC Company acquired an 8%, ten-month note receivable from a customer in settlement of an existing account receivable of $130,000. Interest and principal are due a maturity. The proper adjusting entry at December 31, 2018 includes: Debit to Notes Receivable of $10,400 Credit to Interest Revenue of $10,400. Debit to Cash of $6,067. Debit to Interest Receivable of $6,067. UUIUL a credit to Petty Cash for $305 QUESTION 5 On June 1, 2018, ABC Company acquired an 8%, ten-month note receivable from a customer in settlement of an ex maturity. The proper adjusting entry at December 31, 2018 includes: Debit to Notes Receivable of $10,400. Credit to Interest Revenue of $10,400. Debit to Cash of $6,067. Debit to Interest Receivable of $6,067. an 8%, ten-month note receivable from a customer in settlement of an existing account receivable of $130,000. Interest and principal are due at cember 31, 2018 includes: 400. Cocobaadi 2020 MacBook Pro

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