Assume That on December 1,a Note Which Has a Face $\begin{array}{ll}\text { Notes receivable } & 9,000 \\\text { Cash }&& 9,000\end{array}$

question 50

Multiple Choice

Assume that on December 1,a note which has a face value of $9,000,bears interest at 9 percent for 120 days,received from a customer as an extension of his of past - due account is dishonored.The entry that would be made to record the dishonor (ignoring interest) is:

• A)
• \(\begin{array}{ll}
• \text { Notes receivable } & 9,000 \\
• \text { Cash }&& 9,000
• \end{array}\)
• B)
• \(\begin{array}{llr}
• \text { Accounts receivable} &9,000 \\
• \text {Cash } &&9,000\\
• \end{array}\)
• C)
• \(\begin{array}{cc}
• \text { Accounts receivable } & 9,000 \\
• \text { Notes receivable } &&9,000
• \end{array}\)
• D)
• \(\begin{array}{l}
• \text { Cash } &9,000\\
• \text { Accounts Receivable }&&9,000
• \end{array}\)

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