A $9,600, 60-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event is a.debit Cash, $9,792; credit Notes Receivable, $9,792. b.debit...

A $9,600, 60-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event is

a.debit Cash, $9,792; credit Notes Receivable, $9,792.

b.debit Notes Receivable, $9,792; credit Accounts Receivable, $9,600; Credit Interest Receivable, $192.

c.debit Notes Receivable, $9,792; credit Accounts Receivable, $9,792.

d.debit Accounts Receivable, $9,792; credit Notes Receivable, $9,600; Credit Interest Revenue, $192.

Jun 03, 2022

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