Business, 12.11.2020 18:50 lanaiheart7
Post Company lends Blue Company $40,000 on April 1, accepting a 4 month, 4.5% interest note. Post Company prepares financial statements on April 30. What adjusting entry should they make?
Debit note receivable $40,000; Credit Cash $40,000
Debit interest receivable $150; Credit interest revenue $150
Debit cash $150; Credit interest revenue $150
Debit interest receivable $600; Credit interest revenue $600
Answers: 1
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Post Company lends Blue Company $40,000 on April 1, accepting a 4 month, 4.5% interest note. Post Co...
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