Debit interest receivable and credit interest revenue

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Reference no: EM13749170

On October 1, Doe Hunting Supplies, a calendar-year company, sold inventory that cost $60,000 for $100,000. The customer signed a six-month, 10 percent note in payment. On December 31, Woods should

Select one:

a. Debit Interest Receivable for $2,500

b. Debit Interest Revenue for $2,500

c. Credit Interest Revenue for $10,000

d. Debit Interest Receivable for $10,000

Reference no: EM13749170

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