On October 1, 2019, Barrymore, Inc. provided services to a customer on account. The customer signs a four-month, 8% note for $6,000. The customer must pay Barrymore, Inc. on January 31, 2020 the $6,000 plus interest on the note. How would Barrymore record the transaction on October 1, 2019? O DR Note Receivable $6,000 DR Interest Receivable $480 CR Service Revenue $6,480 O DR Interest Receivable $160 CR Interest Revenue $160 DR Note Receivable $6,000 CR Cash $6,000 DR Note Receivable $6,000 CR Service Revenue $6,000 On October 1, 2019, Barrymore, Inc. provided services to a customer on account. The customer signs a four-month, 8% note for $6,000. The customer must pay Barrymore, Inc. on January 31, 2020 the $6,000 plus interest on the note. How much interest revenue will Barrymore, Inc. report in its income statement for the year ended 12/31/19 regarding this loan? O $480 $160 $120 $0 In its August bank reconciliation, Simonson Corp. identified that a customer's check had been returned as an NSF check. Which of the following would be included in Simonson's adjusting journal entry to correct the company's cash balance? Credit to Service Revenue O Debit to Service Fee Expense Debit to Accounts Receivable Credit to Accounts Payable Question 4 Accounts receivable are best described as: Liabilities that a company owes to suppliers Amounts a company has previously received from customers Assets that represent the amount owed by customers to a company Amounts a company has previously paid to suppliers The amount of cash that is actually expected to be collected on accounts receivable is referred to as: Bad debt expense Net sales revenue Net realizable value Allowance for uncollectible accounts