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Alanis Company holds Morissette Inc.'s 60 day, 12%, $1,000 note. When Alanis receives the payment from Morissette for the full amount due, Alanis will (select

Alanis Company holds Morissette Inc.'s 60 day, 12%, $1,000 note. When Alanis receives the payment from Morissette for the full amount due, Alanis will (select all that apply): (Assume a 360 day year).

Question 4 options:

Debit Notes Receivable for $1,000

Credit Interest Revenue for $20

Credit Interest Revenue for $120

Debit Cash for $1,020

Credit Notes Receivable for $1,020

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