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On February 1, 2018, Sanger Corp. lends cash and accepts a $2,000 note receivable that offers 10% interest and is due in six months. What
On February 1, 2018, Sanger Corp. lends cash and accepts a $2,000 note receivable that offers 10% interest and is due in six months. What would Sanger record on August 1, 2018, when the borrower pays Sanger the correct amount owed?
A. | Cash | 2,000 | |
Interest Revenue | 100 | ||
Notes Receivable | 2,100 | ||
B. | Cash | 2,100 | |
Notes Receivable | 2,100 | ||
C. | Cash | 2,100 | |
Interest Revenue | 100 | ||
Notes Receivable | 2,000 | ||
D. | Cash | 2,200 | |
Notes Receivable | 2,200 |
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