Question:Schlicht Co. holds Osgrove Inc's $10,000, 120-day, 9% note. The entry made by Schlicht Co. when the note is collected, assuming no interest has been previously accured, is:
A
Title | Dr | Cr |
---|---|---|
Cash | $10,300 | --- |
Notes Receivable | --- | $10,300 |
Title | Dr | Cr |
---|---|---|
Cash | $10,000 | --- |
Notes Receivable | --- | $10,000 |
Title | Dr | Cr |
---|---|---|
Accounts Receivable | $10,300 | --- |
Notes Receivable | --- | $10,300 |
Title | Dr | Cr |
---|---|---|
Cash | $10,300 | --- |
Notes Receivable | --- | $10,000 |
Interest Revenue | --- | $300 |
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