On June 1, 2018, Jensen Company acquired an... [The following information applies to the questions displayed below. On June 1, 2018, Jensen Company acquired an 6.2%, ten-month note receivable from a customer in settlement of an existing account receivable of $180,000. Interest and principal are due at maturity. MC Ou. 164 The proper adjusting entry... The proper adjusting entry at December 31, 2018, with regard to this note receivable includes a Multiple Choice Debit to Notes Receivable of $11,160. Credit to Interest Revenue of $11,160. Debit to Cash of $6,510 Debit to Interest Receivable of $6,510.
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