Smith Company lends Jones Company $40,000 on April 1, accepting a four-month, 6% interest note....
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Accounting
Smith Company lends Jones Company $40,000 on April 1, accepting a four-month, 6% interest note. Smith Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared?
Select one:
a. A
b. B
c. C
d. D
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