Question: On August 1 , 2 0 2 4 , a company lends cash and accepts a $ 2 0 , 0 0 0 note receivable

On August 1,2024, a company lends cash and accepts a $20,000 note receivable that offers 10% interest and is due in nine months. How would the company record theOn August 1,2024, a company lends cash and accepts a $20,000 note receivable that offers 10% interest and is due in nine months. How would the company record the year-end adjusting entry to accrue interest in 2024?-end adjusting entry to accrue interest in 2024?

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