Record this adjusting entry for the quarter, Financial Accounting

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Record this adjusting entry for the quarter

Problem:

Journal Entry for Mar 31:

Asset: Marketable Securities 20,000

Record this adjusting entry for the quarter so Financial Statements are correct!

Mar 31 The amount of interest earned on marketable securities for the three months of 202x was recognized.

Hint: Adjusting entires should not be booked to cash.

Marketable Securities: The interest rate earned on marketable securities is 8.0%.

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Financial Accounting: Record this adjusting entry for the quarter

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