Solution: Option A. is the correct choice.
Accounts rec. is debited for reinstating the debit balance of W. Pental and Note Rec. is credited for removing Note rec. from books, and Interest revenue is charged from W. Pental till 15 march. on $5,000 for 2 month = $5,000*9% * 2/12 = $75
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8.) On January 15, 2010, Raymond Company received a two-month, 9%, $5,000 note Pentel for the...
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