The interest on a $64,000 note at 5% for three months is

Accounting: Receivables

1. February 12

2. $800

3. 0.70

4. debit to Accounts Receivable-Daniels & Company for $12,300

5. decreases net income and decreases assets

6. credit-to-interest revenue

7. contra asset, credit

8. acid-test ratio

9. credit to the customer's account receivables

10. $720

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