Post Company lends Blue Company $40,000 on April 1, accepting a 4 month, 4.5% interest note. Post Company prepares financial statements on April 30. What adjusting entry should they make? Debit note receivable $40,000; Credit Cash $40,000

Debit interest receivable $150; Credit interest revenue $150

Debit cash $150; Credit interest revenue $150

Debit interest receivable $600; Credit interest revenue $600

Debit interest receivable $150; Credit interest revenue $150--- B

Explanation:

Interest Receivable =  Principal x Rate x Time ( from  April 2st to 31st--Imonth)

$40,000 x 4.5% x 1/12

= $ 150

Journal entry to record amount on interest note on  April 31st

Date           Account  titles                     Debit                    Credit

April 31st     interest receivable             $150

interest revenue                                                                   $150

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.

i believe the answer is: streets and roads

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