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with the calculation breakdown? On December 1, Daw Co. accepts a $24,000, 45-day, 7% note from a customer. (1) Prepare the year-end adjusting entry to

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On December 1, Daw Co. accepts a $24,000, 45-day, 7% note from a customer. (1) Prepare the year-end adjusting entry to record accrued interest revenue on December 31. (2) Prepare the entry required on the note's maturity date assuming it is honored. (Use 360 days a year.) No Date General Journal Debit Credit 1 Dec 31 140 Interest receivable Interest revenue 140 2 Jan 15 24,820 Cash Interest receivable Interest revenue Notes receivable 750 70 24,000

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