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On June 17, 2017, Kerak Inc. writes a 60-day, 6%, $40,000 note to settle an...

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Accounting

On June 17, 2017, Kerak Inc. writes a 60-day, 6%, $40,000 note to settle an open account with Tafila Solutions. At what amount will the payee record the note receivable on its statement of financial position, and on what date will the note be recorded? Select one: $42,400 on September 16, 2017. $40,400 on June 17, 2017. $42,400 on August 17, 2017. $40,000 on June 17, 2017.

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