Question: Earned $90,000 by establishing a note receivable with a face value of $120,000. This note has no stated interest. Enter the asset accounts first. Account

Earned $90,000 by establishing a note receivable with a face value

Earned $90,000 by establishing a note receivable with a face value of $120,000. This note has no stated interest. Enter the asset accounts first. Account #1 Account Type Increase/Decrease Debit/Credit Notes receivable asset Increase Debit Account #2 Account Type Increase/Decrease Debit/Credit Cash asset Increase Credit Account #3 Account Type Increase/Decrease Debit/Credit unearned interest liabilities Increase Credit CHECK ANSWER RESET Please review your answer and try again

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