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Wong Company paid Lee Company for merchandise with a $4,500, 90-day, 10% note dated December...

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Accounting

Wong Company paid Lee Company for merchandise with a $4,500, 90-day, 10% note dated December 11. What entry should Lee make in its books at the end of the accounting period on December 31? Answer A. Interest receivable 25 Interest income 25 B. Cash 25 Interest receivable 25 C. Interest income 25 Interest receivable 25 D. Cash 25 Interest income 25 E. None of the above

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