2. Pane Company receives a $3,000, 3-month, 6% promissory note from Dag Company in settlement...
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2. Pane Company receives a $3,000, 3-month, 6% promissory note from Dag Company in settlement of an open accounts receivable. What entry will Pane Company make upon receiving the note? a. Notes Receivable 3,000 Accounts Receivable-Dag Company b. Notes Receivable Accounts Receivable-Dag Company c. Notes Receivable Accounts Receivable-Dag Company Interest Revenue d. Notes Receivable 3,045 Interest Receivable Accounts Receivable-Dag Company Interest Revenue 3,045 3,000 3,000 45 3,045 3,000 45 45 3,000
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