Notes Receivable are a type of receivable that earns the company interest revenue.

Concept #1: Notes Receivable Definitions

Concept #2: Notes Receivable: Calculating the Maturity Date

Concept #3: Notes Receivable: Acquiring and Disposing

Concept #4: Notes Receivable: Interest Receivable Adjusting Entry

Practice: On April 15, Holden Company received a 60-day, 12% note in the amount of $10,000 from a customer who was having difficulty paying his account. When preparing the April 30 financial statements, the necessary adjusting entry related to interest would include: