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19. James Inc. lends McKenzie Company $60,000 in exchange for 3-year note bearing interest at 5% annually. The market rate of interest for a note

19. James Inc. lends McKenzie Company $60,000 in exchange for 3-year note bearing interest at 5% annually. The market rate of interest for a note of similar risk is 6% A. The journal entry to record the notes receivable on books of James Inc. will include the following dollar amounts: (round final answer to the nearest dollar): B. The journal entry to record Interest Revenue by James Inc. at the end of year one (round to $ ): 19. James Inc. lends McKenzie Company $60,000 in exchange for 3-year note bearing interest at 5% annually. The market rate of interest for a note of similar risk is 6% A. The journal entry to record the notes receivable on books of James Inc. will include the following dollar amounts: (round final answer to the nearest dollar): B. The journal entry to record Interest Revenue by James Inc. at the end of year one (round to $ )

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