Scarmeyer Corporation loaned $540,000 to another company on December 1 and received a 4-month, 12% interest-bearing note. The December 31 adjusting entry would be: Date Enter Account Number Debit...

Extracted text: Scarmeyer Corporation loaned $540,000 to another company on December 1 and received a 4-month, 12% interest-bearing note. The December 31 adjusting entry would be: Date Enter Account Number Debit Credit XX/XX/XX Would this adjusting entry be reversed? (Y for Yes or N for No)