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In 2019, Trevor Construction is in its first year of business. All of Trevors sales are made on account. The company has dec35. Select the correct statement: A. The interest receivable is classified as operating activity in the Statement of Cash Flo34. Flowers Co. loaned $50,000 to Garden store on August 1 Year 1 for one year at 5% interest. What is the adjusting entry athelp, please!

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Answer #1

35 (B) Interest receivable is considered as investing activity in statement of cash flow and non operating income in income statement

reason is interest will come on investment only and it not our business so non operating income

34 (B( Interest Receivable  A/C. Dr

To Interest revenue

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