Solution-Make the journal entry to record the collection of

Make the journal entry to record the collection of the note

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Reference no: EM132759371

Question - On August 1, Kim Company accepted a 90-day note receivable as payment for services provided to Hsu Company. The terms of the note were $12,000 face value and 7% interest. On October 30, make the journal entry to record the collection of the note should include a

a. Interest Receivable for $110.

b. Notes Receivable for $310.

c. Credit to Interest Revenue for $210.

d. Interest Revenue for $410.

Reference no: EM132759371

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Make the journal entry to record the collection of the note

Reference no: EM132759371

Reference no: EM132759371

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