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Bully Finance Company lends Green's Market $40,000 on January 1, 2025, accepting a 9-month, 9% interest note. If Green's Market dishonors the note and does
Bully Finance Company lends Green's Market $40,000 on January 1, 2025, accepting a 9-month, 9% interest note. If Green's Market dishonors the note and does not pay it in full at maturity but Bully expects that it will eventually be able to collect the debt, which of the following entries would be made by Bully? OA) O B) OC) OD) Accounts Receivable Notes Receivable Interest Revenue Accounts Receivable Notes Receivable Interest Receivable Cash Notes Receivable Accounts Receivable Notes Receivable 42,700 42,700 40,000 40,000 40,000 2,700 40,000 2,700 40,000 40,000
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