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On April 20, Jon paid $7,750 to Cascade Supply Company to fulfill his promissory note agreement. Of the $7,750, $750 is interest. The journal entry
On April 20, Jon paid $7,750 to Cascade Supply Company to fulfill his promissory note agreement. Of the $7,750, $750 is interest. The journal entry Cascade Supply will record is to O A. debit Note Receivable/Jon, $7,750; credit Cash $7,750 O B. debit Cash, $7,750, credit Note ReceivablelJon, $7,750 O C. debit Note ReceivablelJon, $7,750; credit Cash $7,000; credit Interest Revenue $750 O D. debit Cash, $7,750; credit Note ReceivablelJon, $7,000; credit Interest Revenue, $750
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