Land Shoes
Land Shoes received a promissory note from a customer on July 1, 2012. The face value of the note is $45,000; the terms are 12 months and 10% annual interest.
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Refer to the information provided for Land Shoes. At the maturity date, the customer pays for the note and interest. Land Shoes made the proper adjustment at the end of December 2012 for interest. The effect of recognizing the transaction on the maturity date is:

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Land Shoes 
Land Shoes received a promissory note from a customer on July 1, 2012. The face value of the note is $45,000; the terms are 12 months and 10% annual interest.
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Refer to the information provided for Land Shoes. At the maturity date, the customer pays for the note and interest. Land Shoes made the proper adjustment at the end of December 2012 for interest. The effect of recognizing the transaction on the maturity date is:

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The Answer of Land Shoes 
Land Shoes received a promissory note from a customer on July 1, 2012. The face value of the note is $45,000; the terms are 12 months and 10% annual interest.
-
Refer to the information provided for Land Shoes. At the maturity date, the customer pays for the note and interest. Land Shoes made the proper adjustment at the end of December 2012 for interest. The effect of recognizing the transaction on the maturity date is:

Land Shoes Land Shoes Received a Promissory Note from a Customer on a Customer