On November 1, 2015, Lendem, Inc. loaned an employee $100,000 at 6% with both the...
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On November 1, 2015, Lendem, Inc. loaned an employee $100,000 at 6% with both the interest and principal due in one year. The adjusting entry to record the interest earned but not received as of December 31, 2015 includes a:
debit to Interest Receivable of $6,000
debit to Interest Payable of $6,000
debit to Cash of $5,000
debit to Interest Receivable of $1,000
debit to Interest Revenue of $1,000
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