On August 1, Kim Company accepted a 90-day note receivable as payment for services provided to HsuCompany. The terms of the note were $20,000 face value and 6% interest. On October 30, the journal entry torecord the collection of the note should include a

a. credit to Notes Receivable for $20,300
b. debit to Interest Receivable for $300
c. credit to Interest Revenue for $300
d. debit to Notes Receivable for $20,000

c

Business

You might also like to view...

A(n) __________ is an action, device, procedure, or technique that reduces a threat, a vulnerability, or an attack by eliminating or preventing it, by minimizing the harm it can cause, or by discovering and reporting it so that correct action can be taken

A. attack C. countermeasure B. adversary D. protocol

Business

According to the 2013 National Business Ethics Survey, which of the following forms of misconduct or unethical behavior was observed by the highest percentage of the U.S. workforce?

A) Discriminating against employees B) Violating company policies related to Internet use C) Abusive behavior that creates a hostile work environment D) Lying to employees E) Stealing or theft

Business