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Assume That on August 1,a $6,000,90-Day,12 Percent Note Receivable Was

Question 102

Multiple Choice

Assume that on August 1,a $6,000,90-day,12 percent note receivable was received from a customer as an extension of his of past - due account.The entry that would be made to record the note is:


A) Notes receivable 6,000
Cash 6,000
B) Notes receivable 6,000
Interest Income account 6,000
C) Notes receivable 6,000
Accounts receivable 6,000
D) Cash 6,000
Accounts receivable 6,000

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