Question: 19.A 60-day, 12% note for $7,000, dated April 15, is received from a customer on account. The face value of the note is a.$7,000 b.$7,840

19.A 60-day, 12% note for $7,000, dated April 15, is received from a customer on account. The face value of the note is

a.$7,000

b.$7,840

c.$7,140

d.$6,860

20.When a company receives an interest-bearing note receivable, it will

a.debit Notes Receivable for the face value of the note

b.credit Notes Receivable for the maturity value of the note

c.credit Notes Receivable for the face value of the note

d.debit Notes Receivable for the maturity value of the note

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