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14. LOYAL Company receives a $7,000, 4-month, 8% promissory note from XYZ Company in settlement of an open accounts receivable. What credit entry will ABC

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14. LOYAL Company receives a $7,000, 4-month, 8% promissory note from XYZ Company in settlement of an open accounts receivable. What credit entry will ABC company make upon receiving the note? (3 Points) Cr. Interest Revenue 560 Cr. Interest Revenue 140 Cr. Notes Receivable 17,140 Cr. Accounts Receivable 7,000

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