A company loaned $6,000 to another corporation on December 1 . Year 1 . and received a 90-day, 1 . percent, interest-bearing note with a face value of $6,000 . The lender's December 31 . Year 1 . adjusting entry is
a. Interest Receivable $150
Interest Revenue $150
b. Interest Receivable $ 50
Interest Revenue $ 50
c. Interest Revenue $100
Interest Receivable $100
d. Interest Revenue $150
Interest Receivable $150
B
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What will be an ideal response?
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What will be an ideal response?