Question: On September 1 , 2 0 2 4 , a company lends $ 5 0 , 0 0 0 to a customer with 1 0

On September 1,2024, a company lends $50,000 to a customer with 10% interest. The note and interest are due in twelve months. The note receivable is recorded for $50,000 on September 1, but no other adjusting entries are recorded in 2024. At the end of 2024, which of the following is true?

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