Harper Company lends Hewell Company $40,000 on March 1, accepting a four-month, 6% interest note. Harper Company prepares financial statements on March 31. What adjusting entry Harper should make before the financial statements can be prepared?

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The Answer of Harper Company lends Hewell Company $40,000 on March 1, accepting a four-month, 6% interest note. Harper Company prepares financial statements on March 31. What adjusting entry Harper should make before the financial statements can be prepared?

Harper Company Lends Hewell Company $40,000 on March 1, Accepting