A dollar 6,000, 60-day, 12 percentage note recorded on November 21 is not paid b

Question

A dollar 6,000, 60-day, 12 percentage note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event is debit Cash, dollar 6,120; credit Notes Receivable, dollar 6,120 debit Accounts Receivable, dollar 6,120; credit Notes Receivable, dollar 6,000; credit interest Receivable, dollar 120 debit Notes Receivable, dollar 6,060; credit Accounts Receivable dollar 6,060 debit Accounts Receivable, dollar 6,120; credit Notes Receivable, dollar 6,000; credit Accounts Revenue, dollar 120

Explanation / Answer

the answer would be C. debit Notes Receivable , $6060; credit Accounts Receivable, $6060

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