Knowledge Check $01$

Kleagle accepted a three$-$year, noninterest$-$bearing note in exchange for merchandise sold. Which of the following is true?

Multiple Cholce

Kleagle would credit a discount on note recelvable when recording the sale.

Kleagle would debit interest revenue over the life of the note.

Kleagle would debit notes recelvable when the note is collected.

Kleagle would multiply sales revenue by the etrectue interest rate to determine interest revenue each perlod.