Ask Question
BusinessBusiness
3 November, 02:19

When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting

Accounts Receivable and crediting Notes Receivable and Interest Revenue.

Accounts Receivable and crediting Interest Revenue.

Notes Receivable and crediting Accounts Receivable and Interest Revenue.

Notes Receivable and crediting Accounts Receivable.

+2
Answers (1)
  1. 3 November, 02:22
    0
    When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting Accounts Receivable and crediting Notes Receivable and Interest Revenue.

    Accounts receivable is money that is owed to a company by its debtors. The notes receivable is an account on the balance sheet that is included as an asset if the life of the item is less than a year old. Interest revenue is the earnings that a person or company makes off the investments that they are invested in - the interest that is saved and kept, revenue.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting Accounts Receivable and crediting Notes ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Encouraging employees to adapt to new business processes is an important factor in change management. True False
Answers (1)
If the government owes $10.0 trillion and then borrows $700 billion more this year, this leads toa. a debt of $700 billion and a deficit of $10.7 trillion. b. a debt of $9.3 trillion and a deficit of $700 billion. c. a debt of $10.
Answers (1)
True or False: With a discount bond, the return on a bond is equal to the rate of capital gain. A. False: Bond returns can never equal the rate of capital gain; there must be a capital loss or gain indicated. B.
Answers (1)
Use the compound interest formula to determine the accumulated balance after the stated period. $60006000 invested at an APR of 66 % for 33 years. If interest is compounded annually, what is the amount of money after 33 years?
Answers (1)
A disability income policyowner recently submitted a claim for a chronic neck problem that has now resulted in total disability. the original neck injury occurred before the application was taken 5 years prior.
Answers (1)
New Questions in Business
Nareen is single, 68 years old, and reports the following in 2018: a. $12,000 alimony received (divorced in 2010) b. $82,520 Schedule C profit c. $3,500 SEP (self-employed pension) plan contribution d. $7,150 qualified dividends e.
Answers (1)
Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2007. What is the annual dividend on the preferred stock? a. $60 per shareb. $30,000 in totalc.
Answers (1)
a risk averse investor, which of the following four otherwise identical investment would you prefer? A. Security W, which exhibits a standard deviation of 2% and offers an average return of 12%. B.
Answers (1)
n a company's merit pay program, an individual's compa-ratio represents the individual's pay relative to company's average pay for that position. the individual's worth versus that of others in the organization.
Answers (1)
Some interview questions are designed to rattle you to see how you deal with stress. True or false.
Answers (2)
Home » Business » When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting Accounts Receivable and crediting Notes Receivable and Interest Revenue. Accounts Receivable and crediting Interest Revenue.
Sign Up Forgot Password?