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Required information [The following information applies to the questions displayed below.] Agrico Inc. accepted a 10-month, 12.8% (annual rate), $9,000 note from one of its
Required information [The following information applies to the questions displayed below.] Agrico Inc. accepted a 10-month, 12.8% (annual rate), $9,000 note from one of its customers on May 15, 2019; interest is payable with the principal at maturity. . Prepare the journal entry to record the interest earned by Agrico during its year ended December 31, 2019. (If no entry is wired for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the accrued interest earned on a short-term note. Note: Enter debits before credits. Event General Journal Debit Credit 306 Interest receivable 306 Record entry Clear entry View general journal
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