$15$

Teller purchased merchandise from TechCom on October $17$ of the current year and TechCom accepted Teller's $$11,200,90-$day, $9\%$ note. What entry should TechCom make on December $31,$ to record the accrued interest on the note? $($Use $360$ days a year.$)$

Multiple Choice

Debit Interest Receivable $$210$; credit Interest Revenue $$210.$

Debit Cash $$252$; credit Interest Revenue $$210$; credit Interest Receivable $$42.$

Debit Cash $$210$; credit Notes Receivable $$210.$

Debit Cash $$42$; credit Notes Receivable $$42.$

Debit Interest Receivable $$42$; credit Interest Revenue $$42.$

Me

Graw

Hil

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