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Business, 29.01.2021 01:10 cookiemonster0476

A company receives interest on a $103000, 6%, 5-year note receivable each April 1. At December 31, 2020, the following adjusting entry was made to accrue interest receivable: Interest Receivable 4635 Interest Revenue 4635 Assuming that the company does use reversing entries, what entry should be made on April 1, 2021 when the annual interest payment is received?

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A company receives interest on a $103000, 6%, 5-year note receivable each April 1. At December 31, 2...
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