Interest earned on a note receivable at December 31 equals $125. What adjusting entry is required to… 1 answer below »
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Interest earned on a note receivable at December 31 equals $125. What adjusting entry is required to accrue this interest?
Interest Payable
125
Interest Expense
125
Interest Expense
125
Cash
125
Interest Receivable
125
Interest Revenue
125
Interest Expense
125
Interest Payable
125