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Business, 06.05.2020 06:29 joannakawata6

On January 1, Franz Co. accepted a 30-day, 6% note in the amount of $5,000 from Bria Co., a customer. On January 31, the due date of the note, Bria honors the note and pays in full. The journal entry that Franz would make to record payment of this note would include a:

A) debit to Cash for $5,025.
B) credit to Note Receivable for $5,000.
C) credit to Interest Revenue for $25.

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On January 1, Franz Co. accepted a 30-day, 6% note in the amount of $5,000 from Bria Co., a customer...

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