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On October 1, Doe Hunting Supplies, a Calendar-Year Company, Sold

Question 25

Multiple Choice

On October 1, Doe Hunting Supplies, a calendar-year company, sold inventory that cost $60,000 for $100,000. The customer signed a six-month, 10 percent note in payment. On December 31, Woods should


A) Debit Interest Receivable for $2,500
B) Debit Interest Revenue for $2,500
C) Credit Interest Revenue for $10,000
D) Debit Interest Receivable for $10,000

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