Question: Question Content Area A $ 1 3 , 2 0 0 , 6 0 - day, 1 2 % note recorded on November 2 1

Question Content Area
A $13,200,60-day, 12% note recorded on November 21 is not paid by the maker at maturity. Assume a 360-day year. The journal entry to recognize this event is
a. debit Notes Receivable for $13,464; credit Accounts Receivable for $13,200; credit Interest Receivable for $264.
b. debit Accounts Receivable for $13,464; credit Notes Receivable for $13,200; credit Interest Revenue for $264.
c. debit Notes Receivable for $13,464; credit Accounts Receivable for $13,464.
d. debit Cash for $13,464; credit Notes Receivable for $13,464.

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