Assume that on October 1, a note which has a face value of $2,000, bears interest at 6 percent for 90 days, received from a customer as an extension of his past-due account is honored on its due date. The entry that would be made to record the receipt on due date is:

A) Notes Receivable 2,000Cash 2,000
B) Accounts Receivable 2,000Interest Revenue 30Cash 2,030
C) Accounts Receivable 2,030 Notes Receivable 2,030
D) Cash 2,030Interest Revenue 30Notes Receivable 2,000


D

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