Question
Vaughn Manufacturing lends Dobson industries $51600 on August 1, 2017, accepting a 9-month, 12% interest note. If Vaughn Manufacturing prepares its financial statements as of
Vaughn Manufacturing lends Dobson industries $51600 on August 1, 2017, accepting a 9-month, 12% interest note. If Vaughn Manufacturing prepares its financial statements as of December 31, 2017, what adjusting entry must it make?
Accounts Receivable
2580
Interest Receivable
2580
Cash
2580
Interest Revenue
2580
Interest Receivable
2580
Interest Revenue
2580
Notes Receivable
2580
Interest Revenue
2580
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
14th Edition
1119707110, 978-1119707110
