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Jasper makes a $39,000, 90 day. 7.0% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity
Jasper makes a $39,000, 90 day. 7.0% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.) Multiple Choice C Debit Cash $39,682.50; credit Notes Receivable for $39. o De Debit Notes Payable $39,000; Debit Interest Expense $2.730; credit Cash $41.730. Debit Cash $39,682,50; credit interest Revenue $682.50; credit Notes Receivable $39,000 Debit Cash $41,730, credit Interest Revenue $2.730, credit Notes Receivable $39,000.
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