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credit Notes Receivable for the maturity value of the note. credit Notes Receivable for the face value of the note. B DIF: Easy OBJ: 09-06 NAT:...

C. credit Notes Receivable for the maturity value of the note. D. credit Notes Receivable for the face value of the note. ANS: B DIF: Easy OBJ: 09-06 NAT: AACSB Analytic | AICPA FN-Measurement 63. Pane Company receives a $3,000, 3-month, 6% promissory note from Dag Company in settlement of an open accounts receivable. What entry will Pane Company make upon receiving the note? A. Notes Receivable 3,000 Accounts Receivable--Dag Company 3,000 b. Notes Receivable 3,045 Accounts Receivable--Dag Company 3,045 c. Notes Receivable 3,045 Accounts Receivable--Dag Company 3,000 Interest Revenue 45 d. Notes Receivable 3,000 Interest Receivable 45 Accounts Receivable--Dag Company 3,000 Interest Revenue 45 ANS: A DIF: Easy OBJ: 09-06 NAT: AACSB Analytic | AICPA FN-Measurement 64. The maturity value of a $20,000, 9%, 40-day note receivable dated July 3 is a. $20,000. B. $20,200. C. $21,800. D. $22,000.

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