Included in Gonzalez Company’s December 31 trial balance is a note receivable of $12,000. The note\nis a 4-month, 10% note dated October 1. Prepare Gon
Included in Gonzalez Company’s December 31 trial balance is a note receivable of $12,000. The note
\r\nis a 4-month, 10% note dated October 1. Prepare Gonzalez’s December 31 adjusting entry to record $300 of accrued interest, and the February 1 journal entry to record receipt of $12,400 from the borrower.