Question: If a customer defaults (doesn't pay) on a $29410 Accounts Receivable and Levine decides to replace it with a 16-month 7% Note on 8/31/2025: What

If a customer defaults (doesn't pay) on a $29410 Accounts Receivable and Levine decides to replace it with a 16-month 7% Note on 8/31/2025:

What would be the amount of the adjusting entry required at the end of 2025? Note: Levine uses a banker's rule for the year (360 days). Round ONLY your final answer to the nearest dollar.

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