A $6,000, 60-Day, 12% Note Recorded on November 21 Is

question 3

Multiple Choice

A $6,000, 60-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event is

• A) debit Cash, $6,120; credit Notes Receivable, $6,120
• B) debit Notes Receivable, $6,120; credit Accounts Receivable, $6,000; credit Interest Receivable, $120
• C) debit Notes Receivable, $6,060; credit Accounts Receivable, $6,060
• D) debit Accounts Receivable, $6,120; credit Notes Receivable, $6,000; credit Interest Revenue, $120

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Definitions:

Cause Advertising

Form of institutional advertising that promotes a specific viewpoint on a public issue as a way to influence public opinion and the legislative process.

Direct-Mail Promotion

A marketing approach where companies send promotional materials, like brochures or catalogs, directly to potential or existing customers through the mail.

Advocacy Advertising

is a type of marketing aimed at influencing public opinion or policy by promoting a particular point of view or cause.

Legislation

Laws that have been enacted by a governing body, such as a legislature or governmental authority.