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'3-3-56ai a Deere Company holds a $13,200 note receivable dated July 1, 2019, with 10% interest. What adjusting entry is needed on December 31,

I wan to know why that is the answer. What makes a debit to Interest Receivable.


Screen Shot 2019-02-04 at 6.58.05 PM.png

Screen Shot 2019-02-04 at 6.58.05 PM.png

'®3-3-56ai a Deere Company holds a $13,200 note receivable dated July 1, 2019, with 10% interest. What adjusting entry is needed on December 31, 2019’? No entry is needed. Debit Interest Receivable for $132 and credit Interest Revenue for $132
Debit Interest Receivable for $1,320 and credit Interest Revenue for $1,320
Debit Interest Receivable for $660 and credit Interest Revenue for $660 55.097? Question is complete. Tap on the red indicators to see incorrect answers. a All parts snowing — _| 4 >

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answer will be debit to... View the full answer

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