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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Interest Receivable
Interest Revenue
Cash
Notes Receivable
Notes Receivable
Interest Receivable
Interest Revenue
Cash
54936
50400
2520
2016
2520
2016
54936
54936
Q
M
V
1
M
Q
Mu
Qu
Mu
Qu
Mu
Qu
Mul
Qu
Mult
Transcribed Image Text:Interest Receivable Interest Revenue Cash Notes Receivable Notes Receivable Interest Receivable Interest Revenue Cash 54936 50400 2520 2016 2520 2016 54936 54936 Q M V 1 M Q Mu Qu Mu Qu Mu Qu Mul 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
V
16
M
Q
Mu
Qu
Mu
Qu
Mul
Qu
Mul
Qu
Mult
Qu
Mult
Transcribed Image Text: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 V 16 M Q Mu Qu Mu Qu Mul Qu Mul Qu Mult Qu Mult
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