41. A company receives interest on a $90,000, 8%, 5-year note receivable each April 1. At...

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41. A company receives interest on a $90,000, 8%, 5-year note receivable each April 1. At December 31, 2020, the following ad

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Answer 1

Answer #1

Answer : ( d)

Journal entry

Date	Account name	Debit	Credit
April 1 ,2021	Cash	$ 7200
	Interest revenue		$ 7200

Interest amount = $ 90000*8% = $ 7200

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Answer 2

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