QUESTION 11On August 1, 2024, a company lends cash and accepts a $15,000 note receivable that offers 14% interest and is due in nine months. How wouldthe company record the year-end adjusting entry to accrue interest in 2024? (Do not round intermediate calculations. Round youranswer to the nearest dollar amount.)O Interest RevenueescO Interest Receivable.ptionInterest Receivable.O Interest ReceivablePIInterest RevenueInterest ReceivableInterest Revenue.O Interest Revenue1AInterest Revenue.Click Save and Submit to save and submit. Click Save All Answers to save all answers.NInterest Receivablep#12WSP12commandX#3ED8.0C$4aFARF07 205V2,1004FS875T945875945G0) >A6B&F68752,100Y945875MacBook Air945H&78F7UN*8JDIIFBIM(9KDOF9O<.OL4Save All AnswersF10PcommandI'V4IFILopt

JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…

QUESTION 11 On August 1, 2024, a company lends cash and accepts a $15,000 note receivable that offers 14% interest and is due in nine months. How would the company record the year-end adjusting entry to accrue interest in 2024? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) O Interest Revenue esc Interest Receivable O Interest Receivable O Interest Receivable Interest Revenue Interest Receivable Interest Revenue. 1 O Interest Revenue A G Interest Revenue. Click Save and Submit to save and submit. Click Save All Answers to save all answers. N Interest Receivable 2 W S 34 12 1 ption command X 3 E D 80 C $ 4 a FA R F % 5 V 2,100 ♥ FS 875 T 945 875 945 G 0) > A 6 B & F6 875 2,100 Y 945 875 MacBook Air 945 H & 7 8 F7 U N * 8 J Dil FO I M ( 9 K DO F9 O < ) -O L 4 Save All Answers F10 P command 2 4 FIL opt

QUESTION 11 On August 1, 2024, a company lends cash and accepts a $15,000 note receivable that offers 14% interest and is due in nine months. How would the company record the year-end adjusting entry to accrue interest in 2024? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) O Interest Revenue esc Interest Receivable O Interest Receivable O Interest Receivable Interest Revenue Interest Receivable Interest Revenue. 1 O Interest Revenue A G Interest Revenue. Click Save and Submit to save and submit. Click Save All Answers to save all answers. N Interest Receivable 2 W S 34 12 1 ption command X 3 E D 80 C $ 4 a FA R F % 5 V 2,100 ♥ FS 875 T 945 875 945 G 0) > A 6 B & F6 875 2,100 Y 945 875 MacBook Air 945 H & 7 8 F7 U N * 8 J Dil FO I M ( 9 K DO F9 O < ) -O L 4 Save All Answers F10 P command 2 4 FIL opt

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 92PSB

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17 Assume that on 15th January 2019 Mustafa and Sons LLC sold OMR 15000 goods to Ibri traders on credit. As the amount is too large, the company asked Ibri traders to give Promissory note and Ibri traders accepted to give 90 days’ promissory note by mentioning 10% annual interest. Compute maturity date and maturity value of the notes receivables. ( Assume 28 days for the month of February and 360 days in a year) a. maturity date April 17th and Cr maturity value OMR 15375 b. Maturity date April 17 and Maturity value OMR 15000 c. Maturity date May 15th and Maturity value OMR 15000 d. Maturity date April 15 and Maturity value OMR 15375