Uniform Supply accepted a $8,800, 90-day, 9% note from Tracy Janitorial on October 17. What entry should Uniform Supply make on January 15 of the next year when the note is paid?. (Use 360 days a year.)Multiple ChoiceDebit Notes Receivable $8,800; debit Interest Receivable $198; credit Sales $8,998.Debit Cash $8,998; credit Interest Revenue $198; credit Notes Receivable $8,800.Debit Cash $8,998; credit Interest Revenue $33; credit Interest Receivable $165; credit Notes Receivable $8,800.Debit Cash $8,998; credit Interest Revenue $165; credit Interest Receivable $33; credit Notes Receivable $8,800.Debit Cash $8,998; credit Notes Receivable $8,998.

Select all that applyOn November 1, Alice Co. accepted a 90-day, 6%, $2,000 note due January 30. On December 31, the appropriate adjusting entry was made. On January 30 of the next year, the note was honored and paid in full. The entry to record receipt of payment on January 30 would include a credit to:Multiple select question.Interest Revenue for $10.Notes Receivable for $2,000Interest Receivable for $20.Interest Revenue for $30.Cash for $2,030.Interest Revenue for $20.

On July 9, Mifflin Company receives an $7,200, 90-day, 8% note from customer Payton Summers to replace an account receivable. What entry should be made by Mifflin on the maturity date assuming the maker pays in full, and no adjusting entries have been made related to the note? (Use 360 days a year.)Multiple ChoiceDebit Cash $7,309; credit Interest Revenue $109; credit Notes Receivable $7,200.Debit Notes Receivable $7,200; debit Interest Receivable $144; credit Sales $7,344.Debit Cash $7,296; credit Interest Revenue $96; credit Notes Receivable $7,200.Debit Cash $7,344; credit Interest Revenue $144; credit Notes Receivable $7,200.Debit Cash $7,200; credit Notes Receivable $7,200.

On January 1, JC Co. accepted a 60-day, 6%, note in the amount of $10,000 from a customer. On March 2, the due date of the note, the customer honors the note and pays in full. The journal entry that JC would make to record the receipt of payment of this note would include a debit to:Multiple choice question.Notes Receivable in the amount of $10,100Cash in the amount of $10,100Notes Receivable in the amount of $10,000Cash in the amount of $10,000

On November 1, Orpheum Company accepted a $12,100, 90-day, 12% note from a customer to replace an account receivable. What entry should be made by Orpheum on the November 1 to record the acceptance of the note?Multiple ChoiceDebit Notes Receivable $12,100; credit Sales $12,100.Debit Notes Receivable $12,100; credit Accounts Receivable $12,100.Debit Sales $12,100; credit Accounts Receivable $12,100.Debit Notes Receivable $12,463; credit Accounts Receivable $12,100; credit Interest Revenue $363.Debit Notes Receivable $12,100; credit Cash $12,100.

On 1 August 2023 RFX Ltd issues a one year (1) $100,000 note to Reg Miles for the purchase of a motor vehicle. Interest on the note payable is 8% per annum and is due at the end of the six-month term of the note. RFX Ltd has a 31 October balance date.What is the correct entry to record interest on the note for the year ended 31 October 2023?Group of answer choicesDr Interest expense $8,000 Cr Interest payable $8,000Dr Interest expense $2,667 Cr Interest payable $2,667Dr Interest expense $2,000 Cr Interest payable $2,000Dr Interest expense $4,000 Cr Interest payable $4,000