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$1.00 question 19

  • From Economics: Accounting
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  • Due on Jun. 16, 2012
  • Asked on Jun 13, 2012 at 4:30:59PM
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jasellers1965
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Q:

Rodgers Company lends Lanier Company $30,000 on April 1, accepting a four-month, 9% interest note. Rodgers Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared?
Notes Receivable 30,000  
Cash   30,000

Interest Receivable 225  
Interest Revenue   225

Cash 225  
Interest Revenue   225

Interest Receivable 900  
Interest Revenue   900

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19. Rodgers Company lends Lanier Company $30,000 (with explanations)
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19. Rodgers Company lends Lanier Company $30,000 (with explanations).xlsx (8K)
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