C. Interest from Notes Receivable.On September 31, 2021, Mr. Dela Cerna, engaged inwarehouse spaces, received a P 250,000, 6%, 2-year note from a customer.LBy the year end Dec 31, 2021, provide Adjusting Entry to record the accrued interest. (Roundoff your answers to whole numbers)

Adjusting entries are the entries usually made at the end of the period to fix some accounts before…

C. Interest from Notes Receivable.On September 31, 2021, Mr. Dela Cerna, engaged in. warehouse spaces, received a P 250,000, 6%, 2-year note from a customer. 1. By the year end Dec. 31, 2021, provide Adjusting Entry to record the accrued interest. (Round off your answers to whole numbers)

C. Interest from Notes Receivable.On September 31, 2021, Mr. Dela Cerna, engaged in. warehouse spaces, received a P 250,000, 6%, 2-year note from a customer. 1. By the year end Dec. 31, 2021, provide Adjusting Entry to record the accrued interest. (Round off your answers to whole numbers)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter3: Accrual Accounting

Section: Chapter Questions

Problem 2MCQ: In December 2019, Swanstrom Inc. receives a cash payment of $3,500 for services performed in...

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C. Interest from Notes Receivable.On September 31, 2021, Mr. Dela Cerna, engaged in
warehouse spaces, received a P 250,000, 6%, 2-year note from a customer.
LBy the year end Dec 31, 2021, provide Adjusting Entry to record the accrued interest. (Round
off your answers to whole numbers)

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