Dekon Company's December 31 year-end unadjusted trial balance shows an $8,000 balance is Notes Receivable. This balance is from one 6% note dated December 1, with a period of 45 days. Prepare journal entries for December 31 and for the note's maturity date assuming it is honored.© BrainMass Inc. brainmass.com March 4, 2021, 7:58 pm ad1c9bdddf
At December 31, the interest receivable as of that date should be accrued for the presentation of accrual-based financial statements.
December 31: ...
The solution shows the computation of interest receivable for two accounting periods, and then lists the journal entries in proper format.