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November 1 : Pane lends one of their employees $ 2 0 0 , 0 0 0 in exchange for a note receivable. The employee

November

1

: Pane lends one of their employees $

200, 000

in exchange for a note receivable. The employee is required to pay Pane back for the principal and interest on September

1, 2024 .

Principal $

200, 000

Interest Rate

9 %

Maturity Date

9 / 1 / 2024

Recognize the interest earned on the note receivable issued in transaction K

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