On July 1, 2012, Herzog Mining lends cash and accepts a $9,000 note receivable that offers 10% interest and is due in nine months. How would Herzog record the transaction on April 1, 2013, when the borrower pays Herzog the correct amount owed?
B) $$\begin{array}{l} \text { Cash }&9,675\ \text { Notes Receivable } & 9,000 \ \text { Interest Revenue } & 225 \ \text { Interest Receivable } & 450 \end{array}$$

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The Answer of On July 1, 2012, Herzog Mining lends cash and accepts a $9,000 note receivable that offers 10% interest and is due in nine months. How would Herzog record the transaction on April 1, 2013, when the borrower pays Herzog the correct amount owed?
B) $$\begin{array}{l} \text { Cash }&9,675\ \text { Notes Receivable } & 9,000 \ \text { Interest Revenue } & 225 \ \text { Interest Receivable } & 450 \end{array}$$

On July 1, 2012, Herzog Mining Lends Cash and Accepts