Question: Gambit Stores accepts from Leonard a $6500, 90 days, 7% note dated May 10 in settlement of Leonard's overdue account. What entry does Gambit make

Gambit Stores accepts from Leonard a $6500, 90 days, 7% note

Gambit Stores accepts from Leonard a $6500, 90 days, 7% note dated May 10 in settlement of Leonard's overdue account. What entry does Gambit make at the maturity date, assuming Leonard on May 10 indicates that it cannot pay at the present time (dishonor of note receivable) O a. Cash 6500 Note receivable 6500 O b. Account receivable 6613.75 Note receivable 6500 Interest revenue 113.75 C. Cash 6613.75 Note receivable 6500 Interest revenue 113.75 O d. Account receivable 6613.75 Note receivable 6613.75 onrocin

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