A $14,400, 30-day, 12% note recorded on November 21 is not paid by the maker...
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Accounting
A $14,400, 30-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event is the one listed below.
A $14,400, 30-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event is the one listed below. Select the correct answer. debit Notes Receivable, $14,544; credit Accounts Receivable, $14,544 debit Accounts Receivable, $14,544; credit Notes Receivable, $14,400; Credit Interest Revenue, $144 debit Cash, $14,544; credit Notes Receivable, $14,544 debit Notes Receivable, $14,544; credit Accounts Receivable, $14,400; Credit Interest Receivable, $144
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