Which of the following statements about the recording of interest on notes receivable is correct? a. Interest on notes receivable is recorded as revenue only when the cash is received
b. When a company makes on interest payment on a note, the payment-is debited to Interest Receivables.
c. Interest on notes receivable is recognized when it is earned, which is not necessarily when the interest is received in cash.
d. Interest earned but not yet received must be recorded in an adjusting entry which include the debit to interest revenue.

University hero is considering expanding operations beyond its healthy sandwiches. jim axelrod, vice president of marketing, would like to add a line of smoothies with a similar health emphasis. each smoothie would include two free health supplements such as vitamins, antioxidants, and protein. jim believes smoothie sales should fill the slow mid-afternoon period. adding the line of smoothies would require purchasing additional freezer space, machinery, and equipment. jim provides the following projections of net sales, net income, and average total assets in support of his proposal. sandwichesonly sandwiches and smoothies net sales $ 750,000 $ 1,350,000 net income 120,000 210,000 average total assets 350,000 750,000 return on assetschoose numerator ÷ choose denominator = return on assets÷ = return on assets÷ = profit margin÷ = profit margin÷ = asset turnover÷ = asset turnover÷ = times