Business, 18.01.2021 14:00 davidleew24

Rose Corp. has a note receivable from Jewel Co for $80,000. The note matures in 5 years and bears interest of 6%. Rose is preparing financial statements for the month of June. Rose should make an adjusting entry a. Debiting Interest Revenue for $400 and crediting Interest Receivable for $400.
b. Debiting Interest Receivable for $400 and crediting Interest Revenue for $400
c. Debiting Interest Revenue for $4,800 and crediting Interest Receivable for $4,800.
d. Crediting Interest Payable for $400 and debiting Interest Expense for $400.

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Rose Corp. has a note receivable from Jewel Co for $80,000. The note matures in 5 years and bears in...