TB MC Qu. 5-165 (Algo) On August 1, 2024, a company lends cash and accepts...On August 1, 2024, a company lends cash and accepts a $17,000 note receivable that offers 12% interest and is due in nine months. How would thecompany record the year-end adjusting entry to accrue interest in 2024? (Do not round intermediate calculations. Round your answer to the nearestdollar amount.)TransactionA.B.C.D.Account TitleInterest RevenueInterest ReceivableInterest ReceivableInterest RevenueInterest ReceivableInterest RevenueInterest ReceivableInterest RevenueMultiple ChoiceOption AOption BO Option COption DDebit Credit9362,0409368509362,040936850

Adjusting Entry Are The Journal Entry To Record The End Of The Accounting Period To Change The…

on August 1, 2024, a company lends cash and accepts a $17,000 note receivable that off ompany record the year-end adjusting entry to accrue interest in 2024? (Do not round ollar amount.) Transaction A. Account Title Interest Revenue Interest Receivable Debit 936 Credit 936

on August 1, 2024, a company lends cash and accepts a $17,000 note receivable that off ompany record the year-end adjusting entry to accrue interest in 2024? (Do not round ollar amount.) Transaction A. Account Title Interest Revenue Interest Receivable Debit 936 Credit 936

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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Question

TB MC Qu. 5-165 (Algo) On August 1, 2024, a company lends cash and accepts...
On August 1, 2024, a company lends cash and accepts a $17,000 note receivable that offers 12% interest and is due in nine months. How would the
company record the year-end adjusting entry to accrue interest in 2024? (Do not round intermediate calculations. Round your answer to the nearest
dollar amount.)
Transaction
A.
B.
C.
D.
Account Title
Interest Revenue
Interest Receivable
Interest Receivable
Interest Revenue
Interest Receivable
Interest Revenue
Interest Receivable
Interest Revenue
Multiple Choice
Option A
Option B
O Option C
Option D
Debit Credit
936
2,040
936
850
936
2,040
936
850

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