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Accrued Interest Assignment

Author:
February 24th, 2020

Included in Ivanhoe Company's December 31 trial balance is a note receivable of $8.BBO. The note is a 4-month, 10% note dated October 1.

Prepare Ivanhoe's December 31 adjusting entry to record $222 of accrued interest, and the February 1 journal entry to record receipt of $9,176 from the borrower. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select “No entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Credit Debit Account Titles and Explanation e Textbook and Media List of Accounts Submit Answer Attempts: 0 of 5 used Save for Later. .

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