Question: c. Credit to Notes Receivable for $75,000. d. Debit Notes Payable for $75,000. 20. The amount due on the maturity date of a $6,000, 60-day

c. Credit to Notes Receivable for $75,000. d. Debit Notes Payable

c. Credit to Notes Receivable for $75,000. d. Debit Notes Payable for $75,000. 20. The amount due on the maturity date of a $6,000, 60-day 8%, note receivable is: a. $6,000. b. $6,480. c. $5,520. d. $6,080. 21. Paoli Pizza bought $5,000 worth of merchandise from TechCom and signed a 90-day, 10% promissory note for the $5,000. TechCom's journal entry to record the sales portion of the transaction is: a. Debit Accounts Receivable $5,000; credit Sales $5,000. b. Debit Notes Receivable $5,000; credit Sales $5,000. c. Debit Accounts Receivable $5,125; credit Sales $5,125. d. Debit Notes Receivable $5,125; credit Sales $5,125. 22. Teller purchased merchandise from TechCom on October 17 of the current year and TechCom accepted Teller's $4,800, 90-day, 10% note. What entry should TechCom make on December 31, to record the accrued interest on the note? a. Debit Cash $20; credit Notes Receivable $20. b. Debit Cash $100; credit Notes Receivable $100. c. Debit Interest Receivable $20; credit Interest Revenue $20. d. Debit Interest Receivable $100; credit Interest Revenue $100. 23. Teller purchased merchandise from TechCom on October 17 of the current year and TechCom accepted Teller's $4,800, 90-day, 10% note. What entry should TechCom make on January 15 of the next year when the note is paid? a. Debit Notes Receivable $4,800; debit Interest Receivable $120; credit Sales $4,920. b. Debit Cash $4,920; credit Notes Receivable $4,920. c. Debit Cash $4,920; credit Interest Revenue $100; credit Interest Receivable $20; credit Notes Receivable $4,800. d. Debit Cash $4,920; credit Interest Revenue $20; credit Interest Receivable $100; credit Notes Receivable $4,800. 24. Teller purchased merchandise from TechCom on October 17 of the current year and TechCom accepted Teller's $4,800, 90-day, 10% note. If the note is dishonored, what entry should TechCom make on January 15 of the next year? a. Debit Notes Receivable $4,800; debit Interest Receivable $120; credit Sales $4,920. b. Debit Cash $4,920; credit Notes Receivable $4,920. c. Debit Cash $4,920; credit Interest Revenue $100; credit Interest Receivable $20, credit Notes Receivable $4,800. d. Debit Accounts Receivable $4,920; credit Interest Revenue $20; credit Interest Receivable $100, credit Notes Receivable $4,800 for $75,000. 20. The amount due on the maturity date of a

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