Question: answer fast please Question 45 (4 points) On October 1, 2020, Golden Rams Company loaned $60,000 to the Peace Hall Company and accepted a one-year,
Question 45 (4 points) On October 1, 2020, Golden Rams Company loaned $60,000 to the Peace Hall Company and accepted a one-year, 6% interest-bearing note. The adjusting entry needed at December 31, 2020 is Debit- - Interest Expense, 63,600; Interest Payable, 63,600 Debit--Notes Receivable, 60.000; Credit---Cash 60,000 Debit--Interest Receivable, 3,6006 Credit--Interest Revenue, 3,600 Debit--Interest Receivable. 900: Credit Interest Revenue, 900
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