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16 Saturn Company received a four-month, 5%, $4,800 note receivable on December 1. The adjusting entry on December 31 will (5 Points) a) debit Interest

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16 Saturn Company received a four-month, 5%, $4,800 note receivable on December 1. The adjusting entry on December 31 will (5 Points) a) debit Interest Receivable $20. b) credit Interest Revenue $20. c) Both a and b. d) credit Interest Revenue $240. 17 What is the maturity value of a $25,000, 5%, six-month note? (5 Points) a) $20,000

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