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Journalize the accrued interest revenue on the note

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Question - On December 4, 2016, Bravo Motors sold goods (a motor vehicle) to the University of Belize and received a 30-days, 6% note for $85,000 dated December 4, 2016. Ignore cost of goods sold.

a. Which party is the maker versus the payee?

b. Journalize the receipt of the note.   

c. Journalize the accrued interest revenue on the note.

d. Journalize the receipt of payment on the note.

Reference no: EM132898227

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