14.On December 1, Bright Company receives a 6% interest-bearing note from Galvalume Company to settle a $20,000 account receivable. The note is due in three months. At December 31, Bright should record interest revenue of (rounded to the nearest dollar)

a. $600.

b. $0.

c. $100.

d. $200.

15.The party to whom the promissory note is payable is the

a. payee.

b. maker.

c. issuer.

d. None of these choices are correct.

16.Other disclosures related to receivables are reported

a. on the income statement only.

b. either on the face of the financial statements or in the financial statement notes.

c. on the face of the financial statements only.

d. in the financial statement notes only.