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Record the adjusting entry on December

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Question - Abueva-Salomon Rangers is to receive $4,500 interest income at the end of February 2020. It covers 3 months starting December 1, 2019.

A) Record the adjusting entry on December 31, 2019.

B) Record the reversing entry on January 1, 2020.

C) Prepare the journal entry upon receipt of interest income by February 28.

Reference no: EM132557070

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