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1. Rodgers Company lends Lanier Company $30,000 on April 1 , accepting a fourmonth, 9% interest note. Rodgers Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared? (2 pts.) a. Note Receivable 30,000 Cash 30,000 b. Interest Receivable 225 Interest Reverue 225 c. Cash 225 Interest Revenue 225 d. Interest Receivable 900 Interest Revenue 900 2. The interest on a $2,000,6%,90-day note receivable is ( 2pts) ): a. $120. b. $60. c. $30. d. 590 . 3. A promissory note (1 pt)) a. is not a formal credit instrument. b. may be used to settle an-accounts receivable. c. has the party to whom the money is due as the maker. d. cannot be factored to another party. 4. On November 1, Kinder Company received a $6,000,10%, three-month note receivable. The cash to be received by Kinder Company when the note becomes due is (2 pts.). a. $6,000. b. 56,100 . c. 56,150 . d. $6,600. 5. Notes receivable are recognized in the accounts at (1 pt)) a. cash (net) realizable value. b. face value. c. gross realizable value. d. maturity value