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uncollectible. Question 4 (1 point) Young Company lends Dobson industries $40,000 on August 1, 2017, accepting a 9- month, 9% interest note. If Young accrued

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uncollectible. Question 4 (1 point) Young Company lends Dobson industries $40,000 on August 1, 2017, accepting a 9- month, 9% interest note. If Young accrued interest at its December 31, 2017 year- end, what entry must it make to record the collection of the note and interest at its maturity date? 42,700 a Cash 40,000 2,700 Notes Receivable Interest Revemue b. Cash 42,700 42,700 Notes Receivable c. Notes Receivable Interest Receivable 40,000 1,500 1,200 Interest Reveue Cash 42,700 42,700 d. Cash Notes Receivable Interest Receivable Interest Reenue 40,000 1,500 1.200 O1) a 2) b O 3) c 4) d Question 5 (1 point) Saved Windsor Corporation. onods on terms of 2/10, p/30 Itbas an accunts ELITEON

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