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Company A accepted a $3,400 note receivable from Company B in settlement of an old account receivable. The 7% note was dated October 2, 2019,
Company A accepted a $3,400 note receivable from Company B in settlement of an old account receivable. The 7% note was dated October 2, 2019, and was due in 120 days. Assume that interest revenue was properly accrued on December 31, 2019. The entry made at maturity in 2020 will include a credit to: interest revenue of $59.99. . interest revenue of $18.91. interest receivable of $39.12. interest receivable of $78.24
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