Agrico Inc. accepted a 10-month, 12.8% (annual rate), $9,000 note from one of its customers...
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Accounting
Agrico Inc. accepted a 10-month, 12.8% (annual rate), $9,000 note from one of its customers on May 15, 2019; interest is payable with the principal at maturity. Prepare the journal entry to record the interest earned by Agrico during its year ended December 31, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Record the accrued interest earned on a short term note on journal entry work sheet
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