Vaughn Manufacturing lends Pina Colada industries $51600 on August 1, 2022, accepting a 9-month, 12% interest note. If Vaughn Manufacturing accrued interest at its December 31, 2022 year-end, what...


Vaughn Manufacturing lends Pina Colada industries $51600 on August 1, 2022, accepting a 9-month, 12% interest note. If Vaughn Manufacturing accrued interest at its December 31, 2022 year-end, what entry must it make to record the collection of the note and interest at its maturity date?


























Cash



56244







Notes Receivable





51600





Interest Revenue





4644


































Cash



56244







Notes Receivable





51600





Interest Receivable





2580





Interest Revenue





2064






















Cash



56244







Notes Receivable





56244
































Notes Receivable



51600





Interest Receivable



2580





Interest Revenue



2064







Cash





56244







Jun 06, 2022
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