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K At December 31 year-end, Crate Company has a $9,000 note receivable from a customer. Interest of 4% has accrued for 4 months on
K At December 31 year-end, Crate Company has a $9,000 note receivable from a customer. Interest of 4% has accrued for 4 months on the note. What will Crate's financial statements report for this situation at December 31? OA. The income statement will report a note receivable of $9,000. OB. The balance sheet will report the note receivable of $9,000. OC. Nothing because the business has not received the cash yet. OD. The balance sheet will report the note receivable of $9,000 and interest receivable of $120.
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