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Suppose Matthew's Ltd. holds a loan receivable from a client. At the end of October, $275 of interest revenue has been earned but not received.

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Suppose Matthew's Ltd. holds a loan receivable from a client. At the end of October, $275 of interest revenue has been earned but not received. Prepare the adjusting entry at October 31. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Oct. 31 Accounts Payable Accounts Receivable Interest Receivable Interest Revenue Sales Revenue

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