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Prepare Larkspurs December adjusting entry

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Question - Included in Larkspur Company's December 31 trial balance is a note receivable of $9,120. The note is a 4-month, 10% note dated October 1. Prepare Larkspur's December 31 adjusting entry to record $228 of accrued interest, and the February 1 journal entry to record receipt of $9,424 from the borrower.

Reference no: EM132530649

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