Interest earned on a note receivable at December 31 equals $125. What adjusting entry is required to accrue this interest?
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Interest Payable |
125 |
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Interest Expense |
125 |
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Interest Expense |
125 |
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Cash |
125 |
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Interest Receivable |
125 |
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Interest Revenue |
125 |
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|
Interest Expense |
125 |
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|
Interest Payable |
125 |