Final Exam $0$

sper makes a $$26,000,90-$day, $8\%$ cash loan to Clayborn Company. Jasper's entry to record the collection of the note and interest at inaturity should bee fo days a year.$)$

Multiple Choice

Debit Cash for $$26,000$; credit Notes Receivable $$26,000.$

Debit Cash $$26,520$; credit Interest Revenue $$520$; credit Notes Receivable $$26,000.$

Debit Cash $$26,520$; credit Notes Receivable for $$26,520.$

Debit Notes Payable $$26,000$; Debit Interest Expense $$2,080$; credit Cash $$28,080.$

Debit Cash $$28,080$; credit Interest Revenue $$2,080,$ credit Notes Receivable $$26,000.$