On February 1, 2021, Sanger Corp. lends cash and accepts a $2,000 note receivable that offers 10% interest and is due in six months. What would Sanger record on August 1, 2021, when the borrower pays Sanger the correct amount owed? A. Cash 2,000 Interest Revenue 100 Notes Receivable 2,100 B. Cash 2,100 Notes Receivable 2,100 C. Cash 2,100 Interest Revenue 100 Notes Receivable 2,000 D. Cash 2,200 Notes Receivable 2,200
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On February 1, 2021, Sanger Corp. lends cash and accepts a $2,000 note receivable that offers 10% in...
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