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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