On October 1,2017,Zircon Jewelry Company accepted a 4-month,10% note for $2,400 in settlement of an overdue account receivable.Interest revenue was accrued through December 31,2017.Zircon receives the maturity value of the note at maturity.Prepare the journal entry to record the collection.

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The Answer of On October 1,2017,Zircon Jewelry Company accepted a 4-month,10% note for $2,400 in settlement of an overdue account receivable.Interest revenue was accrued through December 31,2017.Zircon receives the maturity value of the note at maturity.Prepare the journal entry to record the collection.

On October 1,2017,Zircon Jewelry Company Accepted a 4-Month,10% Note for $2,400