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    amendez002's Avatar
    amendez002 Posts: 4, Reputation: 1
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    #1

    May 10, 2012, 01:36 PM
    Adjusting entries
    Interest receivable at 1/1/12 was $1,000. During 2012 cash received from debtors on outstanding notes receivable amounted to $5,000. The 2012 income statement showed interest revenue in the amount of $7,400. You are to provide the missing adjusting entry that must have been made, assuming reversing entries are not made.
    zy003553's Avatar
    zy003553 Posts: 1, Reputation: 1
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    #2

    Mar 12, 2013, 07:47 PM
    Dr Interest Receivable 3,400
    Cr Interest Revenue 3,400
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