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Nicklaus, Inc has an old outstanding accounts receivable balance due from Watson, Inc. The Accounts receivable balance due from Watson is over 300 days old

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Nicklaus, Inc has an old outstanding accounts receivable balance due from Watson, Inc. The Accounts receivable balance due from Watson is over 300 days old and the balance due is $600,000. Nicklaus tells Watson that the account receivable will be converted to a note receivable On October 1, 2019, Watson writes the promissory note to settle the account receivable balance and Nicklaus records the transaction. The mote is due 10 months from October 1, 2019 and bears interest at an annual rate of ION The next time Nicklaus prepares its financial statements is December 31, 2019. What journal entry will Nicklaus makeat October 1, 2017 3600.000 $ 15,000 Note Receivable Interest Receivable Accounts Receivable Interest Revenue Notes Receivable Cash 5600,000 $ 15.000 5600,000 Kyrlou 5600,000 Interest Receivable $15.000 000 SI5.000 Interest Revenue Interest Receivable 560.000 560.000 $600.000 Accounts Receivable $600.000

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