Nash's Trading Post, LLC receives a $9000, 3-month, 6% promissory note from Concord Corporation in settlement of an open accounts receivable. What entry will Nash's Trading Post, LLC make upon receiving the note? Notes Receivable 9000   Interest Receivable 135     Accounts Receivable-Concord Corporation   9000   Interest Revenue   135 Notes Receivable 9135     Accounts Receivable-Concord Corporation   9135 Notes Receivable 9000     Accounts Receivable-Concord Corporation   9000 Notes Receivable 9135     Accounts Receivable-Concord Corporation   9000   Interest Revenue   135

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A: As you have posted multiple independent questions, we are answering first three requirements. Please…

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A: Total Interest Expense = Value of Notes receivable x Interest Expense

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Q: . Journalize all entries for Symphony Bank related to the note for 2018 and 2019.

A:

Q: Denger

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A: Finance charge (Interest expense ) = $1,600,000×2% = $32,000

Q: entry to record the pledge of accounts receivable

A: Pledge is the lien created on some assets so as to forfeit those assets in the event of non-payment…

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A: The accrued interest is the amount of interest due for payment but not paid yet. The accrued…

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A: The note receivable is an asset for the business which is issued by the debtors of the business.

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A: Note: In the given question it is assume that there is 360 days in a year.

Q: Trade Accounts Receivable

A: Trade Accounts Receivable is the amount due from customers on account of sales made or services…

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.