Business, 13.11.2019 22:31 josephmcintosh3137

Jasper makes a $45,000, 90-day, 6.5% cash loan to clayborn co. jasper's entry to record the collection of the note and interest at maturity should be: (use 360 days a year.) multiple choice:
a. debit notes payable $45,000; debit interest expense $2,925; credit cash $47,925.
b. debit cash $45,731.25; credit notes receivable for $45,731.25.
c. debit cash $45,731.25; credit interest revenue $731.25; credit notes receivable $45,000.
d. debit cash $47,925; credit interest revenue $2,925, credit notes receivable $45,000.
e. debit cash for $45,000; credit notes receivable $45,000.

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Jasper makes a $45,000, 90-day, 6.5% cash loan to clayborn co. jasper's entry to record the collecti...

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