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Eastern Supply sells a variety of merchandise to customers on account, but it insists that any customer who fails to pay an invoice when due must replace their account receivable with an interest-bearing note. The company adjusts and closes its accounts on December 31. Eastern Supply had the following transaction. September 15, ed from a customer, Felipe Coronado, a 120 day, 12 percent, 2020 note plus $5,000 in cash in settlement of an accounts e. December 31. ccrued interest on the note receivable received on 2020 Jer 15, 2020, January 13, 2021 Collected in full the September 15, 2020 note plus interest. What entry should Eastern Supply make when the note matures on January 13, 2021 (round all decimals to two decimal places)? Debit Cash $51.980; credit Notes Receivable $51.980. Debit Cash $51,980; credit Interest Revenue $180; credit Interest Receivable $1,800, credit Notes Receivable $50,000. Debit Cash $51.980; credit Interest Revenue $1,800; credit Interest Receivable $180, credit Notes Receivable $50,000. Debit Accounts Receivable $51,980; credit Interest Revenue $180; credit interest Receivable $1,800, credit Notes Receivable $50,000 Debit Notes Receivable $50,000; debit Interest Revenue $1,980; credit Cash $51.980. Eastern Supply sells a variety of merchandise to customers on account, but it insists that any customer who fails to pay an invoice when due must replace their account receivable with an interest-bearing note. The company adjusts and closes its accounts on December 31. Eastern Supply had the following transaction. September 15, ed from a customer, Felipe Coronado, a 120 day, 12 percent, 2020 note plus $5,000 in cash in settlement of an accounts e. December 31. ccrued interest on the note receivable received on 2020 Jer 15, 2020, January 13, 2021 Collected in full the September 15, 2020 note plus interest. What entry should Eastern Supply make when the note matures on January 13, 2021 (round all decimals to two decimal places)? Debit Cash $51.980; credit Notes Receivable $51.980. Debit Cash $51,980; credit Interest Revenue $180; credit Interest Receivable $1,800, credit Notes Receivable $50,000. Debit Cash $51.980; credit Interest Revenue $1,800; credit Interest Receivable $180, credit Notes Receivable $50,000. Debit Accounts Receivable $51,980; credit Interest Revenue $180; credit interest Receivable $1,800, credit Notes Receivable $50,000 Debit Notes Receivable $50,000; debit Interest Revenue $1,980; credit Cash $51.980

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