on-the-maturity-date-a-company-receives-10500-for-a-note-receivable-the-principa

Question

On the maturity date, a company receives $$10,500 for a note receivable. The principal was 10$$,000. What is the journal entry?

Accepted Answer

Debit Cash $$10,500; Credit Notes Receivable 10$$,000; Credit Interest Revenue $500

Answer

Debit Cash $$10,500; Credit Notes Receivable 10$$,500

Answer

Debit Cash $$10,500; Credit Interest Revenue 10$$,500

Answer

Debit Cash $$10,000; Credit Notes Receivable 10$$,000

On the maturity date, a company receives \$10,500 for a note receivable. The principal was \$10,000. What is the journal entry?