At the end of the first quarter,which of the following entries will be made to record the interest earned by Palmer on the Perez note?
A) DR Cash 2,500
CR Interest income 2,500
B) DR Accrued interest receivable 2,500
CR Interest income 2,500
C) DR Notes receivable-Perez 2,265
CR Interest income 2,265
D) DR Cash 2,265
CR Accrued interest receivable 2,265
Correct Answer:
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