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12 Eve's Apples Corp. lent $2,500 to one of its customers and accepted a six-month noninterest-bearing note for $2,800 on January 1, 2021. The cash

12 Eve's Apples Corp. lent $2,500 to one of its customers and accepted a six-month noninterest-bearing note for $2,800 on January 1, 2021. The cash collection on July 1, 2021, would be recorded as:

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  • Discount on notes receivable 300
    Interest revenue 300
    Cash 2,800
    Note receivable 2,800
  • Cash 2,500
    Note receivable 2,500
  • Cash 2,500
    Discount on notes receivable 300
    Note receivable 2,800
  • Cash 2,800
    Accounts receivable 2,500
    Interest revenue 300

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