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a. 33. On October 1, Woods Sporting Supplies, a calendar-year company, sold inventory that cost $30,000 for $50,000. The customer signed a four-month, 15 percent
a. 33. On October 1, Woods Sporting Supplies, a calendar-year company, sold inventory that cost $30,000 for $50,000. The customer signed a four-month, 15 percent note in payment. On December 31, Woods should Debit Interest Receivable for $1,875 b. Debit Interest Revenue for $1,875 c. Credit Interest Revenue for $7,500 d. Debit Interest Receivable for $7,500 that will NOT be paid until July
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