On February 1, Light Co. received a $20,000, 120 day, 9% note from Dark Co.
The entry made by...
Business, 06.05.2020 06:14, brendaesme
On February 1, Light Co. received a $20,000, 120 day, 9% note from Dark Co.
The entry made by Light Co. when the note is collected is:
a) Cash 20,000, Notes Receivable 20,000.
b) Accounts Receivable 20,600, Notes Receivable 20,000, Interest Revenue 600.
c) Cash 20,600, Notes Receivable 20,000, Interest Revenue 600.
d) Accounts Receivable 20,600, Notes Revenue 20,000, Interest Revenue 600.
Answers: 1
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