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Exercise 5-17(Algo) Notes receivableinterest accrual and collection LO 5-6 Skip to question ...

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Accounting

Exercise 5-17(Algo) Notes receivableinterest accrual and collection LO 5-6
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[The following information applies to the questions displayed below.]
Agrico Incorporated accepted a 8-month, 10%(annual rate), $5,200 note from one of its customers on July 15,2022; interest is payable with the principal at maturity.
Exercise 5-17(Algo) Part a (1)
Required:
a-1. Prepare the horizontal model to record the interest earned by Agrico during its year ended December 31,2022.
Note: Enter decreases to account balances with a minus sign. Do not round your intermediate calculation. Round your final answers to two decimal places.

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