How to properly adjust the given items

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Reference no: EM131779506

Question: It is December 31, 20x9 and TZ Corporation is making their necessary year-end adjusting entries. Their accountant is unsure how to properly adjust for the following items:

- Interest incurred on an outstanding loan of $21400.29 at 12%

- Interest earned on an outstanding loan of $18114.79 at 10%

Select one:

- A credit to interest revenue of $ 2568.03.

- A debit to interest expense of $ 1811.48

- A credit to interest revenue of $ 1811.48

- A credit to interest expense of $ 2568.03

Reference no: EM131779506

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