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17. 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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17. 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. Notes Receivable. 7.140 Cr. Interest Revenue. 560 Cr. Accounts Receivable 7.000 Cr. Interest Revenue 140

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