On september 15, 2016, oliver's mortuary received a $6,000, nine-month note bearing interest at an annual rate of 10% from the estate of jay hendrix for services rendered. oliver's has a december 31 year-end. what adjusting entry will the company record on december 31, 2016?

Hubert manages a grocery store in a country experiencing a high rate of inflation. to keep up with inflation, he spends a lot of time every day updating the prices, printing new price tags, and sending out newspaper inserts advertising the new prices. his employees regularly deal with customer annoyance over the frequent price changes. this is an example of the of inflation.