Business, 20.11.2020 16:30 biyah40

Keith Company paid Major Company for merchandise with an $8,000, 60-day, 9% note dated April 1. If Keith Company pays the note at maturity, what entry should Major make at that time?a. cash 8,720 720 interest income 8,000 notes receivable b. notes payable 8,000 720interest expense 8,720 cashc. cash 8,120 interest income 120 notes receivable 8,000 d. notes payable 7,880 interest expense 120 cash 8,000

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Keith Company paid Major Company for merchandise with an $8,000, 60-day, 9% note dated April 1. If K...

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