Try another version of this question On June 6, National Credit lent $77,600 to Shaquan Michaud on a 60 day 7% note. Journalize for National Credit the lending of the money on June 6. Journalize the collection of the principal and interest at maturity.
Date Description Debit Credit June 6 June 6 Date Description Debit Credit August 5 August 5 August 5 Date Description Debit Credit June 6 Notes Receivable 77,600 June 6 Cash 77,600 Date Description Debit Credit August 5 Cash 78,505.33 August 5 Notes Receivable 77,600.00 August 5 Interest Revenue 905.33