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48. On January 30, 2018, Mayberry Company received a three-month, 8%, $10,000 note from Gomer Pyle for the settlement of his open account. The entry

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48. On January 30, 2018, Mayberry Company received a three-month, 8%, $10,000 note from Gomer Pyle for the settlement of his open account. The entry by Mayberry Company on January 30, 2018 would include a: a. debit of $10,135 to Notes Receivable. b. debit of $10,000 to Notes Receivable. c. credit of $10,000 to Notes Receivable d. credit of $10,135 to Accounts Receivable. 49. On May 10, 2018, Imagood Company received a two-month, 8%, $12,000 note from Barney Fife for the settlement of his open account. The entry by Imagood Company on July 10, 2018 if Fife dishonors the note and collection is expected is: a. Accounts Receivable-B. Fife 12,000 Notes Receivable 12,000 b. Accounts Receivable-B. Fife 12,160 Notes Receivable 12,000 Interest Revenue c. Accounts Receivable-B. Fife 12,000 Interest Lost 160 Notes Receivable 12,160 d. Bad Debt Expense 12,160 Notes Receivable 12,160 160

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