Question
The main issue I'm having with this problem is the interest receivable entry, for some reason, I cant seem to get it right. Record the
The main issue I'm having with this problem is the interest receivable entry, for some reason, I cant seem to get it right.
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.)
Nov. 1 | Loaned $13,200 cash to Manny Lopez on a 12 month, 10% note. |
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
Nov. 1 | Cash | enter a debit amount | enter a credit amount |
Interest Receivable | enter a debit amount | enter a credit amount | |
Interest Revenue | enter a debit amount | enter a credit amount | |
Notes Receivable | enter a debit amount | enter a credit amount |
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