Assets LaoteEquity +1 840 +1 840 the ent of inter curren will be incom of $1 low subs This entry increases Interest Receivable to reflect the onal receivable Fiji now has from Zagne. Fiji will report vable on its balance sheet until the interest is paid rch 2017. The entry also increases Interest Revenue to flect the inflow of assets attributable to the year 2016. As a th result, both assets and equity increase. not Collecting the note Sim The collection of a note receivable is much like the collection f an account receivable. When a note is collected, the note $1 the th Exercises 1 Recording accounts receivable LO On 4 March, Cole Company sells office supplies to a customer for $60000. Terms of the sale are 1/15, n/30. On 10 March, the customer returns $5000 of the goods. The customer pays on 15 March. Required Prepare all journal entries to record the sale, its return and the collection of the receivable. Ignore any effects on inventory or cost of goods sold