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Wull Associates sold a piece of equipment to Coral Company on April 1, 2018, for $500,000. Wull agreed to accept a 9-month note with 8%
Wull Associates sold a piece of equipment to Coral Company on April 1, 2018, for $500,000. Wull agreed to accept a 9-month note with 8% interest (current market rate) due on its maturity date, December 31, 2018. Wull's journal entry to record the receipt of the note on April 1, 2018, will include a O A. debit Note Receivable for $500,000 O B. credit to Cash for $500,000 O C. debit Cash for $500,000 OD. credit Note Receivable for $500,000 Which of the following is not an adjusting entry? O A. Insurance Expense Prepaid Insurance OB. Depreciation Expense Accumulated Depreciation O c. Unearned Service Revenue Service Revenue O D. Cash Unearned Rent Revenue
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