Question: Senada Custom Blinds accepted a 90-day, 9% notes receivable for $44,000 as payment for a sale made to Blind Covers Company on November 10, 2023.
Senada Custom Blinds accepted a 90-day, 9% notes receivable for $44,000 as payment for a sale made to Blind Covers Company on November 10, 2023. Senada has a December 31 year end. Prepare the journal entry to record accrued interest on December 31, 2023.
Do not enter dollar signs or commas in the input boxes.Round your answer to 2 decimal places.
| Date | Account Title and Explanation | Debit | Credit |
| Dec 31 | AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseAllowance for Doubtful AccountsBad Debt ExpenseCashInterest ExpenseInterest PayableInterest ReceivableInterest RevenueNotes PayableNotes ReceivablePrepaid InsurancePrepaid Rent | Answer | |
| AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseAllowance for Doubtful AccountsBad Debt ExpenseCashInterest ExpenseInterest PayableInterest ReceivableInterest RevenueNotes PayableNotes ReceivablePrepaid InsurancePrepaid Rent | Answer | ||
| To record accrued interest revenue |
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