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Business, 07.05.2020 10:04 kmsg2000

Randie Company lends Luann Company $10,000 on April 1, accepting a four-month, 6% interest note. Randie Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared?

A. Interest Receivable 200

Interest Revenue 200

B. Note Receivable 10,000

Cash 10,000

C. Interest Receivable 50

Interest Revenue 50

D. Cash 50

Interest Revenue 50

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Answers: 1

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Randie Company lends Luann Company $10,000 on April 1, accepting a four-month, 6% interest note. Ran...
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