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On February 1, 2021, Sanger Corp. lends cash and accepts a $11,000 note receivable that offers 12% interest and is due in six months. What
On February 1, 2021, Sanger Corp. lends cash and accepts a $11,000 note receivable that offers 12% interest and is due in six months. What would Sanger record on August 1, 2021, when the borrower pays Sanger the correct amount owed? (Do not round intermediate calculations.) A. Cash 11,660 Interest Revenue 440 Notes Receivable 11,220 B. Cash 11,000 Accounts 11,000 Receivable C. Cash 11,660 Interest Revenue 660 Notes Receivable 11,000 D. Cash 11,660 Notes Receivable 11,660
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