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On August 1, Kim Company accepted a 90 day not receivable as payment for services provided to su Company. The terms of the note were

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On August 1, Kim Company accepted a 90 day not receivable as payment for services provided to su Company. The terms of the note were $16,000 face value and 6% interest. On October 30, the journal entry to record the collection of the note, assuming a 360-day year, should include a Oa debit to Notes Receivable for $263 Ob. credit to Interest Revenue for $240 Oc. credit to Notes Receivable for $279 Od. debit to Interest Receivable for $222

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