9. Young Company lends Dobson industries $40,000 on August 1, 2017, accepting a 9-month, 9% interest...

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9. Young Company lends Dobson industries $40,000 on August 1, 2017, accepting a 9-month, 9% interest note. If Young accrued interest at its December 31, 2017 year-end, what entry must it make to record the collection of the note and interest at its maturity date? a. Cash 42,700 b. Cash Notes Receivable Interest Revenue d. Cash Notes Receivable c. Notes Receivable Interest Receivable Interest Revenue Cash Notes Receivable Interest Receivable Interest Revenue bolusq 40,000 2,700 42,700 42,700 40,000 1,500 1,200 volnavai 42,700 0 42,700 fauce The c. credit to Accumulated Depreciation for $60,000. d. credit to Accumulated Depreciation for $72,000. 40,000 1,500 1,200 of 10. A truck costing $72,000 and on which $60,000 of accumulated depreciation has been recorded was discarded as having no value. The entry to record this event would include a a. gain of $12,000. b. loss of $12,000. 9. Young Company lends Dobson industries $40,000 on August 1, 2017, accepting a 9-month, 9% interest note. If Young accrued interest at its December 31, 2017 year-end, what entry must it make to record the collection of the note and interest at its maturity date? a. Cash 42,700 b. Cash Notes Receivable Interest Revenue d. Cash Notes Receivable c. Notes Receivable Interest Receivable Interest Revenue Cash Notes Receivable Interest Receivable Interest Revenue bolusq 40,000 2,700 42,700 42,700 40,000 1,500 1,200 volnavai 42,700 0 42,700 fauce The c. credit to Accumulated Depreciation for $60,000. d. credit to Accumulated Depreciation for $72,000. 40,000 1,500 1,200 of 10. A truck costing $72,000 and on which $60,000 of accumulated depreciation has been recorded was discarded as having no value. The entry to record this event would include a a. gain of $12,000. b. loss of $12,000.

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9 Interest receivable on December 31 2017 40000 x 9100 x 512 ... View the full answer