Homework Answers
Journal entry:
| Date | Account Name | Debit | Credit | |
| 1 | March-1 | Cash | $ 31752 | |
| 2 | To Note Receivable | $ 29400 | ||
| 3 | To Interest Revenue | $2352 |
Accounting Equation:
| Asset | Liability | Equity |
| Cash increase. + 31752 | ||
| Note rec. Decrease. - 29400 | Increase Equity + 2352 |
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