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HELP NOW! Jasper makes a $28,000,90-day, 9% cash loan to Clayborn Company. Jasper's entry to record the collection of the note and interest at maturity
HELP NOW! Jasper makes a $28,000,90-day, 9% cash loan to Clayborn Company. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.) Multiple Choice Debit Cash for $28,000; credit Notes Receivable $28,000. Debit Cash $28,630; credit Interest Revenue $630; credit Notes Receivable $28,000. Debit Cash $28,630; credit Notes Receivable for $28,630. Debit Notes Payable $28,000; Debit Interest Expense $2,520 : credit Cash $30,520. Debit Cash for $28,000; credit Notes Receivable $28,000. Debit Cash $28,630; credit Interest Revenue $630; credit Notes Receivable $28,000. Debit Cash $28,630; credit Notes Receivable for $28,630. Debit Notes Payable $28,000; Debit Interest Expense $2,520; credit Cash $30,520. Debit Cash $30,520; credit Interest Revenue $2,520, credit Notes Receivable $28,000. Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3.0% charge on sales for using its card. On June 28, Jervis had $4,000 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice Debit Cash $4,000; credit Sales $4,000 Debit Accounts Receivable $4,000; credit Sales $4,000 Debit Cash $4,120.00; credit Credit Card Expense $120.00; credit Sales $4,000 Debit Cash $3,880.00; debit Credit Card Expense $120.00; credit Sales $4.000 Debit Cash $4,000; credit Sales $4,000 Debit Accounts Receivable $4,000; credit Sales $4,000 Debit Cash \$4,120.00; credit Credit Card Expense $120.00; credit Sales $4,000 Debit Cash $3,880.00; debit Credit Card Expense $120.00; credit Sales $4,000 Debit Accounts Receivable $3,880.00; debit Credit Card Expense $120.00; credit Sales $4,000
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