On October 1, 2019, ABC Company loaned A. Jenkins $9,000 at an annual interest rate of 5% with a maturity date of April 1, 2020. On October 1, 2019, ABC Company will record ________.

Question

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On October 1, 2019, ABC Company will record a debit to Notes Receivable - A. Jenkins of $9,000, representing the amount of the loan, since it is an asset to the company. The interest will not be recorded until it is earned, which will occur over the term of the loan, and the maturity date will not be recorded until the loan is due on April 1, 2020.

On October 1, 2019, ABC Company Loaned A