Assuming the Maker of the Note Defaults on May 1,2018,Salem

question 191

Multiple Choice

Assuming the maker of the note defaults on May 1,2018,Salem will record on this date:

• A)An accounts receivable of $900,000 from the maker of the note.
• B)An accounts receivable in the amount of $900,000,as well as interest expense of
• C)An accounts receivable in the amount of $927,000,as well as interest revenue of
• D)An accounts receivable in the amount of $900,000,as well as interest revenue of