Question
When a note receivable is paid on time and no interest has been previously accrued, what will the journal entry to record the transaction
When a note receivable is paid on time and no interest has been previously accrued, what will the journal entry to record the transaction contain? OA debit to Interest Expense, a debit to Interest Receivable, and a credit to Cash OA debit to Interest Expense, a credit to Interest Payable, and a credit to Cash OA debit to Cash and a credit to Interest Revenue, but no other entries. OA debit to Cash, a credit to Notes Receivable, and a credit to Interest Revenue OA debit to Notes Receivable, a credit to Cash
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