Kingbird Finance Company lends Blossom Industries $49200 on August 1, 2025, accepting a 9-month, 12% Interest note. If Kingbirdprepares its financial statements as of December 31, 2025, what adjusting entry must it make?OInterest Receivable 2460Interest RevenueNotes ReceivableInterest RevenueCashInterest Revenue246024602460Accounts Receivable 2460Interest Receivable.246024602460

Adjusting entries are journal entries that are passed at the end of accounting period to adjust the…

Kingbird Finance Company lends Blossom Industries $49200 on August 1, 2025, accepting a 9-month, 12% Interest note. If Kingbird prepares its financial statements as of December 31, 2025, what adjusting entry must it make? O O Interest Receivable 2460 Interest Revenue Notes Receivable Interest Revenue Cash Interest Revenue 2460 2460 2460 Accounts Receivable 2460 Interest Receivable. 2460 2460 2460

Kingbird Finance Company lends Blossom Industries $49200 on August 1, 2025, accepting a 9-month, 12% Interest note. If Kingbird prepares its financial statements as of December 31, 2025, what adjusting entry must it make? O O Interest Receivable 2460 Interest Revenue Notes Receivable Interest Revenue Cash Interest Revenue 2460 2460 2460 Accounts Receivable 2460 Interest Receivable. 2460 2460 2460

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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