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Required information Exercise 5-17 (Algo) Notes receivable-interest accrual and collection LO 5-6 [The following information applies to the questions displayed below.] Agrico Incorporated accepted
Required information Exercise 5-17 (Algo) Notes receivable-interest accrual and collection LO 5-6 [The following information applies to the questions displayed below.] Agrico Incorporated accepted a 10-month, 14% (annual rate), $4,400 note from one of its customers on July 15, 2022; interest is payable with the principal at maturity. Exercise 5-17 (Algo) Part a (2) a-2. Prepare the journal entry to record the interest earned by Agrico during its year ended December 31, 2022. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculation. Round your answers to 2 decimal places. View transaction list View journal entry worksheet No Event General Journal A 1 Interest receivable Interest revenue Debit Credit
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