Question: Main Place determines that it has NOT yet recorded the Y 2 accrual for interest revenue to be received in Y 3 . Assuming the
Main Place determines that it has NOT yet recorded the Y accrual for interest revenue to be received in Y Assuming the amount to be recorded for Y is $ the required adjustment at December Y is
Question options:
No adjusting entry is required.
debit Interest Receivable and credit Interest Revenue $
debit Interest Payable and credit Interest Revenue $
debit Interest Revenue and credit Interest Receivable $
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