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Jasper makes a $50,000, 90-day, 9.0% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should
Jasper makes a $50,000, 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 $50,000; credit Notes Receivable $50,000. Debit Cash $51,125.00; credit Interest Revenue $1,125.00; credit Notes Receivable $50,000. O Debit Cash $51,125.00; credit Notes Receivable for $51,125.00 Debit Notes Payable $50,000; Debit Interest Expense $4,500; credit Cash $54,500. O Debit Cash $54,500; credit Interest Revenue $4,500, credit Notes Receivable $50,000
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