Question: During December Dayton earned an additional $ 1 0 0 in interest income that will not be received until January 2 0 X 2 .

During December Dayton earned an additional $100 in interest income that will not be received until January 20X2. What adjusting entry is needed at 12/31/X1? how does this entry affect net income?
The interest income for question #6 is received on January 16,20X2. What entry is made on 1/16/X2? How does this entry affect net income?

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