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Green Inc. is the payee of a $10,000, 6-month, 12% note written by Yellow Inc. on November 1, 2020. Green's fiscal year ends on
Green Inc. is the payee of a $10,000, 6-month, 12% note written by Yellow Inc. on November 1, 2020. Green's fiscal year ends on December 31. Given this situation, what accounting entries should Green make to record payment in full on May 1, 2021? O Cash-debit of $10,600; Notes Receivable-credit of $10,000; Interest Receivable-credit of $200; Interest Revenue- credit of $400 O Cash-credit of $10,600; Notes Receivable = debit of $10,000; Interest Receivable - debit of $200; Interest Revenue- debit of $400 O Cash-debit of $10,600; Notes Receivable credit of $10,000: Interest Receivable credit of $400; Interest Revenue - credit of $200 O Cash-credit of $10,600: Notes Receivable = debit of $10,000: Interest Receivable - debit of $400; Interest Revenue debit of $200
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