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Question 12 A company lends a corporation $40,000 on August 1 accepting the...

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Accounting

Question 12
A company lends a corporation $40,000 on August 1 accepting the corporation's 9-month, 12%
interest note. If the company lending the money prepares it financial statements as of December 31,
what year-end adjusting entry must it record?
Interest Receivable
Accounts Receivable
2,000
Interest Receivable
2,000
Cash
2,000
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