Business, 05.11.2020 18:30 pinsonjon1129

Young Company lends Dobson industries $40,000 on August 1, 2017, accepting a 9-month, 9% interest note receivable. If Young prepares its financial statements as of December 31, 2017, what adjusting entry must it make? a. DR Notes Receivable 1,500; CR Interest Revenue 1,500
b. DR Cash 1,500; CR Interest Revenue 1,500
c. DR Interest Receivable 1,500; CR Interest Revenue 1,500
d. DR Accounts Receivable 1,500; CR Interest Receivable 1,500

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Young Company lends Dobson industries $40,000 on August 1, 2017, accepting a 9-month, 9% interest no...

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