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Jasper makes a $33,000, 90-day, 8% cash loan to Clayborn Company. Jasper's entry to record the collection of the note and interest at maturity should
Jasper makes a $33,000, 90-day, 8% 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 $35,640; credit Interest Revenue $2,640, credit Notes Receivable $33,000. Debit Cash $33,660; credit Interest Revenue $660; credit Notes Receivable $33,000. Debit Cash $33,660; credit Notes Receivable for $33,660. Debit Cash for $33,000; credit Notes Receivable $33,000. Debit Notes Payable $33,000; Debit Interest Expense $2,640; credit Cash $35,640
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