Question : 111. On August 9, Pierce Company receives a $8,500, 90-day, 8% : 1225948
111. On August 9, Pierce Company receives a $8,500, 90-day, 8% note from customer Eric Simms as payment on his account. What entry should be made on the maturity date assuming the maker pays in full? A. Debit Notes Receivable $8,500; debit Interest Receivable $170; credit Sales $8,670. B. Debit Cash $8,670; credit Interest Revenue $170; credit Notes Receivable $8,500. C. Debit Cash $8,628; credit Interest Revenue $128; […]