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At December 31 year-end, Crain Corporation has an $8,400 note receivable from a customer. Interest of 10% has accrued for 10 months on the note. What will Crain's financial statements report for this situation at December 31?

A The balance sheet will report the note receivable of $8,400. B. The balance sheet will report the note receivable of $8,400 and interest receivable of $700. C. Nothing because the business has not received the cash yet. D. The income statement will report a note receivable of $8,400.

Prepaid Rent is increased with a:

a. Debit b. Credit c. Both debit and credit d. Neither debit nor credit