Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. nance co. holds gant inc.'s $25,000, 120 day, 9% n

Nance Co. holds Gant Inc.'s $25,000, 120 day, 9% note. The entry made by Nance...

80.2K

Verified Solution

Question

Accounting

image
Nance Co. holds Gant Inc.'s $25,000, 120 day, 9% note. The entry made by Nance Co. when the note is collected, assuming no interest has previously been accrued is: Cash 25,000 Note Receivable 25,000 25,700 Cash Note Receivable Interest Revenue 25,000 750 25,750 Accounts Receivable Note Receivable Interest Revenue 25,000 750 25,750 Accounts Receivable Note Revenue Interest Revenue 25,000 750

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Write the linear function whose graph passes through the points(4, 5) and (2, 13).Write the...

Calculus
Q

Print-O-Matic printing company spends specific amounts on fixed costs every month. The costs of those fixed...

Statistics
Q

The air we breathe is pretty dirty. It is loaded with dust, debris, viruses, and bacteria....

Medical Sciences
Q

A transportation policy specialist is pursuing new opportunities in the Middle East. He has business contacts...

General Management
Q

Solve the following equations:a) tan (x-72) = -1 on the interval (-?,?).b) 2cos (x/3) +...

Algebra
Q

Carmelita Inc., has the following information available: Costs from Beginning...

Accounting
Q

Q: Q: Costco, Inc. describes itself as follows in its first footnote: Costco Wholesale Corporation...

Accounting
Q

anticipates sales of 59,000 units for the first six months of the year. Beginning inventory...

Accounting
Q

I need help with the I come statement. Below are all of the previous answers...

Accounting
Q

In 2020, Laureen is currently single. She paid $2,800 of qualified tuition and related expenses...

Accounting
Q

Can you please show me how to solve this? Thank you! Pro forma income...

Finance
Q

please give me accurate answers . Many answers are uploaded of the same question, which...

Accounting