Question: Question 7 4 pts A 60-day, 12% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the

Question 7 4 pts A 60-day, 12% note for $10,000, dated

Question 7 4 pts A 60-day, 12% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the note is $9,800 $11,200 $10,000 $10,200 Question 8 4 pts A $6,000, 60-day, 12% note recorded on November 21 is not paid by the maker at maturity. The ournal entry to recognize this event is O debit Notes Receivable, $6,060; credit Accounts Receivable, $6,060 Odebit Accounts Receivable, $6,120; credit Notes Receivable, $6,000; Credit Interest Revenue, $120 O debit Accounts Receivable, $6,120; credit Notes Receivable, $6,000; Credit Interest Receivable, $120 O debit Cash, $6,120; credit Notes Receivable, $6,120

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