Valley Spa purchased $10,500 in plumbing components from Tubman Company. Valley Spa signed a 60-day, 12% promissory note for $10,500. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry made by Tubman to record the dishonored note? (Use 360 days a year.)Multiple ChoiceDebit Accounts Receivable—Valley Spa $10,500; credit Notes Receivable $10,500.Debit Accounts Receivable—Valley Spa $10,710; debit Bad Debt Expense $210; credit Notes Receivable $10,500.Debit Accounts Receivable—Valley Spa $10,710, credit Interest Revenue $210; credit Notes Receivable $10,500.Debit Bad Debt Expense $10,500; credit Notes Receivable $10,500.Debit Bad Debt Expense $10,710; credit Accounts Receivable—Valley Spa $10,710.

Valley Spa purchased $10,400 in plumbing components from Tubman Company. Valley Spa signed a 45-day, 7% promissory note for $10,400. If the note is dishonored, what is the amount due on the note? (Use 360 days a year.)Multiple Choice$91$10,730$10,650$10,400$10,491

Select all that applyOn March 14, Ian Co. accepted a 180-day, 5% note in the amount of $1,000 from Ali Co., a customer. On the due date of the note, Ali dishonors the note. The journal entry that Ian would record on the due date would include a:Multiple select question.debit to Accounts Receivable - Ali for $1,025.debit to Interest Revenue for $25.credit to Interest Revenue for $25.credit to Notes Receivable for $1,000.credit to Accounts Receivable - Ali for $1,000.debit to Notes Receivable for $1,025.

A company issues a note receivable in place of an outstanding accounts receivable balance. The amount of the note is $5,000, the interest rate is 6% and the term is 2 months. Assuming the note receivable is dishonoured, but the company expects eventual collection, what will the journal entry include on the date the note maturies, assuming that is also the date the note is dishonoured?Select answer from the options belowdebit to Accounts Receivable $5,050debit to Cash of $5,050debit to Accounts Receivable $5,000debit to Interest Revenue $50

Select all that applyOn January 1, Franz Co. accepted a 30-day, 6% note in the amount of $5,000 from Bria Co., a customer. On January 31, the due date of the note, Bria honors the note and pays in full. The journal entry that Franz would make to record payment of this note would include a:Multiple select question.debit to Cash for $5,025.debit to Interest Revenue for $25.credit to Note Receivable for $5,025.credit to Interest Revenue for $25.credit to Note Receivable for $5,000.

The journal entry to record interest that has been earned but not yet received includes a debit to Interest Receivable and a credit to:Multiple ChoiceCashInterest ExpenseAccounts PayableInterest Income