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Question 10 of 11 0.71 / 1 View Policies Show Attempt History Current Attempt in Progress Novak Corp. has the following transactions related to notes

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Question 10 of 11 0.71 / 1 View Policies Show Attempt History Current Attempt in Progress Novak Corp. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $27,000 cash to Manny Lopez on a 12 month, 10% note. Dec. 11 Sold goods to Ralph Kremer, Inc., receiving a $74,250, 90-day, 8% note. 16 Received a $95,400, 180 day, 8% note in exchange for Joe Fernetti's outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable. Question 10 of 11 0.71 / 1 Your answer is partially correct. Record the collection of the Lopez note at its maturity in 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Cash Interest Receivable Interest Revenue Notes Receivable

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