33 3 points Mortgage notes give the bank the right to take the borrower's assets identified in the mortgage if the borrower fails to make the required payments O True False 34 3 points Michael in borrowed $8,000 cash from First Bank and signed a promissory note. What entry should Michael Inc. record? Debit Cash and credit Notes Payable for $8,000. Debit Cash and credit Notes Receivable for $8,000 Debit Notes Payable and credit Cash for $8,000, Debit Notes Receivable and Credit Cash for $8,000 35 5 points Lawrence Corp, saved 3100,000 of bonds at a premium, as a result, the company O received more than $100,000 on the issue date. received $100,000 on the issue date, will pay the bondholders more money on the maturity date than it received on the issue date: received less than $100,000 on the issue date