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Cheyenne Corp. lends Dobson industries $44400 on August 1, 2017, accepting a 9-month, 6% interest note. If Cheyenne Corp. prepares its financial statements as of December 31, 2017, what adjusting entry must it make?

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Cheyenne Corp. lends Dobson industries $44400 on August 1, 2017, accepting a 9-month, 6% interest note. If Cheyenne Corp. prepares its financial statements as of December 31, 2017, what adjusting entry must it make?

A) Accounts Receivable

1110

Interest Receivable

1110

B) Cash

1110

Interest Revenue

1110

C) Interest Receivable

1110

Interest Revenue

1110

D) Notes Receivable

1110

Interest Revenue

1110

 
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