On August 1, Kim Company accepted a 90-day note receivable as payment for services provided to Hsu Company. The terms of the note were $8,500 face value and 7% interest. On October 30, the journal entry to record the collection of the note should include a.
A) Credit to Interest Revenue for $149
B) Interest Revenue for $349
C) Notes Receivable for $249
D) Interest Receivable for $49
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On August 1, Kim Company accepted a 90-day note receivable as payment for services provided to Hsu Company. The terms of the note were ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Under management by exception, which differences between planned and actual results should be investigated?
Answers (1)
Assume there are three hardware stores in the market for hammers and that all three markets produce a single, standard model hammer. House Depot is an enormous mass producer of hammers and can offer a hammer for sale for a minimum of $7.
Answers (1)
Austin is training his company's supervisors in how to use the performance management system. He has explained the importance of ensuring that employees know what goals they are expected to achieve.
Answers (1)
Petrojac is a premier provider of oil field consultancy services in roswell, new mexico. its consultants are experts on local conditions.
Answers (1)
If we receive a refund from our federal income tax, what does this mean? A. Too much tax was withheld from our pay the previous year. B. We didn't earn any income last year. C. The right amount of withholding was taken from our pay the previous year.
Answers (1)
New Questions in Business
Usa jobs is an example of what
Answers (1)
Complete the recursive formula of the geometric sequence 500, 200, 80, 32 ...
Answers (1)
Why would an advertiser use a mixed-media approach? It is less expensive than a homogeneous media mix It gives more exposure than a heterogeneous media plan It is easier to schedule than any other type of media mix It produces an effect where the
Answers (1)
Select the answer that best decribes what an opportunity cost is
Answers (1)
Suppose the U. S. government encouraged consumers to trade in their old automobiles for more efficient, new models by paying up to $5,000 for the old automobiles.
Answers (1)