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Young Company lends Dobson industries $30,000 on August 1, 2010, accepting a 9- month, 12% interest note. If Young prepares it financial statements as of

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Young Company lends Dobson industries $30,000 on August 1, 2010, accepting a 9- month, 12% interest note. If Young prepares it financial statements as of December 31, 2010, what adjusting entry must it make? a. Interest Receivable 50. 1,500 1,500 1,500 1,500 Interest Revenue Interest Receivable Interest Revenue Interest Revenue 1,500 1,500 1,500 1,500 b. Accounts Receivable c. Cash d. Notes Receivable

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