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On May 1, 2022, Wilbur Company sold merchandise and accepted a 90-day promissory note in the amount of $10,000 from Nola Company with an interest

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On May 1, 2022, Wilbur Company sold merchandise and accepted a 90-day promissory note in the amount of $10,000 from Nola Company with an interest rate of 10%. The May 1 journal entry on the books of Wilbur to record sale and receipt of note will include a. a debit to Notes Receivable for $10,000. b. a credit to Sales Revenue for $11,000. c. a debit to Interest Receivable for $1,000. d. a credit to Interest Revenue for $250. Clear my choice

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