Ginter Co. holds Kolar Inc.’s $10,000, 120 day, 9% note. The entry made by Ginter Co. when the note is ollected, assuming no interest has been previously accrued, is:
|
a. Cash |
10,300 |
|
|
Notes Receivable |
10,300 |
|
|
b. Cash |
10,000 |
|
|
Notes Receivable |
10,000 |
|
|
c. Accounts Receivable |
10,300 |
|
|
Notes Receivable |
10,000 |
|
|
Interest Revenue |
300 |
|
|
d. Cash |
10,300 |
|
|
Notes Receivable |
10,000 |
|
|
Interest Revenue |
300 |