Try another version of this question On June 6, National Credit lent $91,100 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 91,100 June 6 Cash 91,100 Date Description Debit Credit August 5 Cash 92,162.83 August 5 Notes Receivable 91,100.00 August 5 Interest Revenue 1,062.83