Question 6 (2 points) Slow Ltd. lends Quick Ltd. $90,000 on April 1, accepting a 10-month, 5% interest-bearing note. Interest is due the first of each month, commencing May 1. Slow Inc. prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared? 375 Interest Receivable Interest Payable 375 375 Cash Interest Revenue 3,750 Interest Receivable Interest Revenue 3.750 90,000 Note Receivable Cash 90,000 None of the above Page 6 of 53 Previous Page Next Page