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A $2,000, 60-day, 12% note recorded on July 21 is not paid by the maker at maturity. The journal entry to recognize this event is
A $2,000, 60-day, 12% note recorded on July 21 is not paid by the maker at maturity. The journal entry to recognize this event is O debit Accounts Receivable, S2.000, credit Notes Receivable, $80; credit Interest Revenue, $80 O none of the other answers are correct O debit Accounts Receivable, s2,040: credit Notes Receivable, $2,000; credit Interest Revenue, $40 o debit Accounts Receivable, $2,000: credit Notes Receivable, $2.000
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