Business, 26.10.2021 14:00, ming8

On July 1, 2016, Herzog Mining lends cash and accepts a $9,000 note receivable that offers 10% interest and is due in nine months. Herzog reported its financial statements at the end of fiscal year on December 31, 2016 (An adjusting entry for interest revenue was recorded). How would Herzog record the transaction on April 1, 2017, when the borrower pays Herzog the correct amount owed

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On July 1, 2016, Herzog Mining lends cash and accepts a $9,000 note receivable that offers 10% inter...