On July 1, 2014, Falcon Company received a $20,000 promissory note from Jordyn Company. The annual interest rate is 5%. Principal and interest are paid in cash at the maturity date of June 30, 2015. If Falcon’s fiscal year ends September 30, 2014, an adjusting entry is needed to:a. Increase interest revenue by $1,000b. Increase notes receivable by $250c. Increase interest receivable by $250d. Increase notes receivable by $1,000

c. Increase interest receivable by $250

Explanation:

The question says that the interest and notes receivable amount will be received at maturity and till then the note is an asset while any interest accrued on the note will be our interest revenue and it will also be a current asset as it will be classified as receivable.

We calculate the interest on note receivable,

Interest Receivable    250 Dr

      Interest Income      250 Cr

So, the answer is C.

idk the answer to this question

answer; (b) insider trading;