Question 21 2 pts May 1 2019, the Cincinnati Company, which has a December 31" year end and makes annual adjusting journal entries, accepted a $30.000 note due in three years. Interest is payable annually on April 30, beginning April 30, 2020. The annual stated interest rate of the note is 6X, which was also equal to the effective interest rate at the time of the issuance of the note. The Cincinnati Company does not use reversing entries. For how much should the Cincinnati Company credit "Interest Receivable" in its April 30, 2020 journal entry? 51,200 $1,800 $600 $400 Question 22 2 pts On March 1, 2020, the Court Company sold land and accepted a five-year zero-interest bearing. $200.000 note. The note was issued to sam an effective interest rate of 3%. The land had a coston Court's books of $150,000. The present value of the note receivable was $172.500 The Court Company's journal entry on March 1, 2020 to record the sale of the land would include a credit to Gain on Sale London MacBook Pro Question 22 2 pts On March 1, 2020, the Court Company sold land and accepted a five-year zero-interest bearing. $200,000 note. The note was issued to car! an effective interest rate of 3%. The land had a cost on Court's books of $150,000. The present value of the note receivable was $172.520 The Court Company's journal entry on March 1, 2020 to record the sale of the land would include a credit to Gain on Sale of Land for Question 23 On January 1, 2018, the lowa Company sold merchandise and accepted a $500,000 note receivable. The note receivable was for years and had a 2% annual interest rate. The note had an effective interest rate of 5%. The present value of the note on January 1, 2018 was 5423,865. The company has a December 31st year end and uses the effective interest rate to recognize the interest revenue on the note What amount of interest revenue should the lowa Company record for the year ended December 31, 2019 (second year)? Round your answer to the nearest dollar. MacBook Pro