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ABC CorpReceived a 3-Month,8% Per Year,$1,500 Note Receivable on December 1

Question 24

Multiple Choice

ABC Corp.received a 3-month,8% per year,$1,500 note receivable on December 1.The adjusting entry on December 31 will include a:


A) debit to Interest Revenue of $10.
B) credit to Interest Receivable of $20.
C) credit to Interest Revenue of $30.
D) debit to Interest Receivable of $10.

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