Nadal Company On October 1, 2012, Nadal Company received a $50,000 promissory note from Borg Company. The annual interest rate is 6%. Principal and interest will be collected in cash at the maturity date of September 30, 2013. Refer to the information provided for Nadal Company. An adjusting entry for Nadal's year end, December 31, 2012 needed to:
A) increase interest revenue by $2,250
B) increase notes receivable by $750
C) increase interest receivable by $750
D) increase notes receivable by $2,250
C
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