On May 1,2016,Fitz Installed a $475,000 Sound System for International

question 71

Multiple Choice

On May 1,2016,Fitz installed a $475,000 sound system for International Arena.Fitz agreed to accept a $500,000 six-month,noninterest bearing note due on December 1,2016.Fitz prepares financial statements at the end of every calendar year.Fitz's journal entry to record the collection of the note plus accrued interest on December 1,2016,will include a ________.

• A)credit Interest Revenue for $475,000
• B)debit Interest Revenue for $25,000
• C)credit Note Receivable for $500,000
• D)credit Note Receivable for $475,000

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Definitions:

Sacred Narratives

Stories regarded as holy or divine within a culture, often foundational to religious beliefs and practices, explaining the origins, traditions, and values of a community.

Human Existence

The state or fact of living or existing as a human being.

Myths

Sacred narratives that explain the fundamentals of human existence- where we and everything in our world came from, why we are here, and where we are going.

Shamans

Spiritual healers and leaders within various indigenous cultures, known for their ability to mediate between the human and spiritual worlds.