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A $88,800,60-day, 5% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event, assuming a
A $88,800,60-day, 5% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event, assuming a 360 -day year, is a. debit Accounts Receivable, $89,540; credit Notes Receivable, $88,800; credit Interest Revenue, $740 b. debit Accounts Receivable, $89,540; credit Notes Receivable, $88,800; credit Interest Receivable, $740 c. debit Notes Receivable, $89,540; credit Accounts Receivable, $89,540 d. debit Cash, $89,540; credit Notes Receivable, $89,540
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