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Entity G lent a customer $25,000 on a one-year note, at 6% interest, with principal...

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Accounting

Entity G lent a customer $25,000 on a one-year note, at 6% interest, with principal and interest due at maturity. The customer dishonored the note but Entity G expects eventual collection of all amounts due and owing from the customer. Entity G should 0000 transfer the amount due (principal and interest) to accounts receivable. write-off the face value of the note. do nothing. transfer only the principal amount to accounts receivable.
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Entity G lent a customer $25,000 on a one-year note, at 6% interest, with principal and interest due at maturity. The customer dishonored the note but Entity G expects eventual collection of all amounts due and owing from the customer. Entity G should transfer the amount due (principal and interest) to accounts receivable. write-off the face value of the note. do nothing. transfer only the principal amount to accounts receivable

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