Wrong Corp.receives a $7,000, 6-month, 4% note from Right Corp.in settlement of a past-due account receivable.What entry will Day Corp.make upon receiving the note? 
Correct Answer:
Verified
Q95: The total interest owing on a $6,000,
Q96: Interest is usually associated with
A)accounts receivable.
B)notes receivable.
C)doubtful
Q97: Tabby Inc.lends Siamese Ltd.$50,000 on April 1,
Q98: Interest accrued on a note receivable is
A)credited
Q99: The total interest owing on a $10,000,
Q101: Use the following information for questions
The
Q102: A note receivable is honoured when
A)it is
Q103: A note receivable is issued in December,
Q104: In a promissory note, the party
A)making the
Q105: A high receivables turnover ratio indicates that
A)the
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