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On December 31,Griffin Company Accrued Interest Revenue of $350 on a $14,000,10

Question 150

Multiple Choice

On December 31,Griffin Company accrued interest revenue of $350 on a $14,000,10% note.The annual interest payment will be made on October 1.The reversing entry will include a(n) ________.


A) credit to Interest Revenue for $1,050
B) debit to Interest Revenue for $350
C) debit to Interest Receivable for $1,050
D) debit to Cash for $350

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