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Step 2 -- Debit Interest Receivable and credit Interest Revenue for $225. ... An adjusting entry is needed to record the salaries expense for 12/30 and 12/31 ...  

More Practice for the Final Exam Adjusting Entries.doc

Title: More Practice for the Final Exam Adjusting Entries Author: rmmartin Last modified by: rmmartin Created Date: 6/2/2005 4:39:00 AM Company: Cal Poly Pomona ...  

1 - Texas Tech University.doc

adjusting entry. necessary for the loan at year-end. DR. CR. Interest Receivable $2,625. Interest Revenue $2,625 ... Interest Receivable $ 2,625 ...   Down

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    adjusting entry. necessary for the loan at year-end. DR. CR. Interest Receivable $2,625. Interest Revenue $2,625 ... Interest Receivable $ 2,625.

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    Practice Quiz 1. Solutions . 1. To compute interest expense for an adjusting entry, the formula is principal X rate X a fraction. The numerator and denominator of the ...

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    Nontrade receivables including interest receivable, ... the debit balance is added to the required balance when the adjusting entry is made. Interest on Notes Receivable.

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    Other receivables include nontrade receivables such as interest receivable, ... to Allowance for Doubtful Accounts through an adjusting entry at the end of ...

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