Rodgers Company lends Lanier Company $60,000 on April 1, accepting a four-month, 9% interest note. Rodgers Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared? 
Definitions:
Retrieval
The process of recalling information, experiences, and memories stored in the brain.
Storage
The process of retaining encoded information over time in the memory.
Explicit Memory
Explicit memory is a type of long-term memory that involves conscious recollection of factual information, previous experiences, and concepts.
Implicit Memory
A type of memory in which previous experiences aid in the performance of a task without conscious awareness of these previous experiences.
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