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Jasper makes a $43,000, 90-day, 9.0% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity
Jasper makes a $43,000, 90-day, 9.0% 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 Debit Cash for $43,000; credit Notes Receivable $43,000. Debit Cash $43,967.50; credit Interest Revenue $967.50; credit Notes Receivable $43,000. Debit Cash $43,967.50; credit Notes Receivable for $43,967.50 Debit Notes Payable $43,000, Debit Interest Expense $3,870, credit Cash $46,870 Debit Cash $46 870 credit interest Revenue $3870 credit Notes Receivable $43.000
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