Business, 14.04.2020 17:22 Bhoom7232

Coronado Company lends Wildhorse Company $9600 on April 1, accepting a four-month, 8% interest note. Coronado Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared?
A. Debit note receivable $40,000; Credit Cash $40,000.
B. Debit interest receivable $150; Credit interest revenue $150.
C. Debit cash $150; Credit interest revenue $150.
D. Debit interest receivable $600; Credit interest revenue $600.

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Coronado Company lends Wildhorse Company $9600 on April 1, accepting a four-month, 8% interest note....

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