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On August 1, Kim Company accepted a 90-day note recelvable as payment for services provided to Hsu Campany. The terms of the note were $15,600
On August 1, Kim Company accepted a 90-day note recelvable as payment for services provided to Hsu Campany. The terms of the note were $15,600 face value and 8% interest, On October 30 , the journal entry for the collection of the noth, assuming a 360-day year, should include a a. debit to interest Recelvable for $295 b. credit to Notes Recelvable for $345 c. debit to Notes Recelvable for $332 d. credit to interest Revenue for $312
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