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  1. business
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  3. a company receives interest on a $30,000,8%,5-year

A company receives interest on a $30,000,8%,5-year note receivable each April 1 . At December...

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Accounting

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A company receives interest on a $30,000,8%,5-year note receivable each April 1 . At December 31, 2016, the following adjusting entry was made to accrue interest receivable: Assuming that the company does NOT use reversing entries, what entry should be made on April 1, 2017 when the annual interest payment is received? Dr. Cash 600: Cr. Interest Revenue 600 Dr. Cash 1,800; Cr. Interest Receivable 1,800 Dr. Cash 2,400; Cr. Interest Receivable 1,800; Cr. Interest Revenue 600 Dr. Cash 2,400; Cr. Interest Revenue 2,400

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