Explain how to account for interest-bearing notes, Accounting Basics

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Explain how to account for interest-bearing notes

Explain how to account for interest-bearing notes receivable.

Notes receivable ultimately result in the receipt of both interest and principal to the holder of the notes.
Because interest receipts may not coincide with the end of the period, adjusting entries may need to be made to accrue interest receivable and interest revenue.

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Accounting Basics: Explain how to account for interest-bearing notes

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