Question 18 (5 points) On 1/1/X1 your company rendered a service to a customer and accepted in exchange a 2- year, non-interest bearing note receivable with $100,000 face value. You estimate the annual interest rate to be 10%, compounded annually. Which of the following statement is correct? On 1/1/X1 Revenue is credited for (approximately) $100,000 On 1/1/X1 Revenue is credited for (approximately) $82.645 On 1/1/X1 Revenue is credited for (approximately $121.000 On 1/1/X1 Revenue is not credited, but other journal entries are required. No journal entry is required on 1/1/X1 Question 19 (10 points) (continued from the previous question) Which of the following statements are true about the journal entries recorded by your company? (select all that apply. i.e. just one or as many as all of them) On 1/1/X1, a contra-asset account is credited As a consequence of the journal entries recorded on 1/1/X1, net assets increase by 82,645 As a consequence of the journal entries recorded on 1/1/X1. net assets increase by 100.000 A contra-asset is credited 12 months after the service was rendered Cash is debited 12 months after the service was rendered