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On september 15, 2016, oliver's mortuary received a $6,000, nine-month note bearing interest at an annual rate of 10% from the estate of jay hendrix for services rendered. oliver's has a december 31 year-end.
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On september 15, 2016, oliver's mortuary received a $6,000, nine-month note bearing interest at an annual rate of 10% from the estate of jay hendrix for services rendered. oliver's has a december 31 year-end. what adjusting entry will the company record on december 31, 2016?

User Williaan Lopes
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Debit to interest receivable 175(6000.1(3.5/12), Credit to Interest revenue 175
User Edilio
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