On September 1,2018,Heartford Construction lends $50,000 to a customer with 9% interest.The note and interest are due in twelve months.The note receivable is recorded for $50,000 on September 1,and the following year-end adjusting entry is made on December 31,2018: At the end of 2018,which of the following is true?
$$\begin{array} { | c | r | r | }
\hline \text { Interest Receivable } & 4,500 & \
\hline \text { Interest Revenue } & & 4,500 \
\hline
\end{array}$$

Question

On September 1,2018,Heartford Construction lends $50,000 to a customer with 9% interest.The note and interest are due in twelve months.The note receivable is recorded for $50,000 on September 1,and the following year-end adjusting entry is made on December 31,2018: At the end of 2018,which of the following is true?
$$\begin{array} { | c | r | r | } 
\hline \text { Interest Receivable } & 4,500 & \
\hline \text { Interest Revenue } & & 4,500 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of On September 1,2018,Heartford Construction lends $50,000 to a customer with 9% interest.The note and interest are due in twelve months.The note receivable is recorded for $50,000 on September 1,and the following year-end adjusting entry is made on December 31,2018: At the end of 2018,which of the following is true?
$$\begin{array} { | c | r | r | } 
\hline \text { Interest Receivable } & 4,500 & \
\hline \text { Interest Revenue } & & 4,500 \
\hline
\end{array}$$

On September 1,2018,Heartford Construction Lends $50,000 to a Customer with 9