On August 1, Kim Company accepted a $20,000, 90-day, 6% note receivable as payment for...
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Accounting
On August 1, Kim Company accepted a $20,000, 90-day, 6% note receivable as payment for services provided to Hsu Company. On October 30, the entry to journalize the collection of the note should include a (Assume a 360-day year.) a. credit to Interest Revenue for $300 O b. debit to Notes Receivable for $20,000 c. debit to Interest Receivable for $300 O d. credit to Notes Receivable for $20,300
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