Bramble Corp. lends Sheffield Corp. $50400 on April 1, accepting a four-month, 9% interest note. Bramble Corp. prepares financialstatements on April 30. What adjusting entry should be made before the financial statements can be prepared?OInterest Receivable378Interest Revenue378Interest Revenue80CashNote ReceivableCashInterest ReceivableInterest RevenueType here to search378504001134S37850400113417

Adjusting entry is the entry passed in the books of account on reporting date to record the…

Bramble Corp. lends Sheffield Corp. $50400 on April 1, accepting a four-month, 9% interest note. Bramble Corp. prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared? Interest Receivable 378 Interest Revenue 378 Interest Revenue 378 50400 Cash Note Receivable Cash Interest Receivable Interest Revenue 378 50400 1134 S 1134

Bramble Corp. lends Sheffield Corp. $50400 on April 1, accepting a four-month, 9% interest note. Bramble Corp. prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared? Interest Receivable 378 Interest Revenue 378 Interest Revenue 378 50400 Cash Note Receivable Cash Interest Receivable Interest Revenue 378 50400 1134 S 1134

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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