Journal entry to record receipt

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Reference no: EM13863751

Included in Gonzalez Company’s December 31 trial balance is a note receivable of $23,400. The note is a 4-month, 10% note dated October 1. Prepare Gonzalez’s December 31 adjusting entry to record $585 of accrued interest, and the February 1 journal entry to record receipt of $24,180 from the borrower.

Reference no: EM13863751

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