Accounts Receivable question?

  • Thread starter Thread starter First NameMatt S
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First NameMatt S

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The adjusting entry for accrued interest on notes receivable includes the following:

debiting Accrued Interest Receivable and crediting Interest Payable.
debiting Accrued Interest Receivable and crediting Interest Revenue.
debiting Interest Expense and crediting Interest Payable.
debiting Interest Revenue and crediting Accrued Interest Payable.
 
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