Bramble Corp. lends Novak industries $50400 on August 1, 2022, accepting a 9-month, 12% interest note. If Bramble Corp. accrued nterest at its December 31, 2022 year-end, what entry must it make to record the collection of the note and interest at its maturity date? Cash Notes Receivable Interest Revenue Cash Notes Receivable Interest Receivable Interest Revenue Cash Notes Receivable 54936 54936 54936 50400 4536 50400 2520 2016 54936 Q M Vi 16 M Qu Mu Qu Mu QL Mul Qu Mul Qu Mult Qu Mult
Bramble Corp. lends Novak industries $50400 on August 1, 2022, accepting a 9-month, 12% interest note. If Bramble Corp. accrued nterest at its December 31, 2022 year-end, what entry must it make to record the collection of the note and interest at its maturity date? Cash Notes Receivable Interest Revenue Cash Notes Receivable Interest Receivable Interest Revenue Cash Notes Receivable 54936 54936 54936 50400 4536 50400 2520 2016 54936 Q M Vi 16 M Qu Mu Qu Mu QL Mul Qu Mul Qu Mult Qu Mult
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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