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What would be included in the journal entry to adjust

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Problem 1: Coasters Co. issued a note receivable to a customer. The customer made payment, principal and interest, directly to the Coaster's bank. What would be included in the journal entry to adjust for this payment?

Option 1: Credit to cash

Option 2: Debit to interest expense

Option 3: No journal entry needed

Option 4: Debit to notes receivable

Option 5: Credit to interest income

Reference no: EM132932385

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