On December 1, 2010, a company accepted a $6,000, 9%, 3-month note from a customer in payment of his overdue account. The company prepares year-end financial statements on December 31. What entry should the company make on March 1, 2011, when the note and interest are paid? 
Definitions:
Supply Of Labor
The total hours that workers are willing and able to work at a given wage rate.
Labor Market
A market where employers find workers and workers find jobs, characterized by supply and demand for labor.
Marginal Expenditure Curve
A graphical representation that shows how total expenditure changes as the quantity of a good or service purchased varies.
Economic Rents
Earnings in excess of the economically or socially necessary cost of bringing a factor of production into use.
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