On March 14, Teal Co. accepted a 120-day, 6% note in the amount of $10,000 from AZC Co., a customer. On the due date of the note, AZC honors the note and pays in full. The journal entry that Teal would make to record payment of this note would include a credit to: Multiple choice question. Interest Receivable for $200. Note Receivable for $10,200. Cash for $10,000. Interest Revenue for $200.
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On March 14, Teal Co. accepted a 120-day, 6% note in the amount of $10,000 from AZC Co., a customer....
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