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Smith Company lends Jones Company $40,000 on April 1, accepting a four-month, 6% interest note. Smith Company prepares financial statements on April 30. What adjusting

Smith Company lends Jones Company $40,000 on April 1, accepting a four-month, 6% interest note. Smith Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared?

Select one:

a. A

b. B

c. C

d. D

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