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Sheridan Company lends Culver industries $42000 on August 1,2022 , accepting a 9 -month, 9% interest note. If Sheridan Company accrued interest at its December

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Sheridan Company lends Culver industries $42000 on August 1,2022 , accepting a 9 -month, 9% interest note. If Sheridan Company accrued interest at its December 31,2022 year-end, what entry must it make to record the collection of the note and interest at its maturity date? Cash 44835 Notes Receivable 44835 Notes Receivable 42000 Interest Receivable 1575 Interest Revenue 1260 Cash 44835 Cash 44835 Sheridan Company lends Culver industries $42000 on August 1,2022 , accepting a 9 -month, 9% interest note. If Sheridan Company accrued interest at its December 31,2022 year-end, what entry must it make to record the collection of the note and interest at its maturity date? Cash 44835 Notes Receivable 44835 Notes Receivable 42000 Interest Receivable 1575 Interest Revenue 1260 Cash 44835 Cash 44835

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