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 On August 1, 2020

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 On August 1, 2020. Bowie Equipment Company sold a manufacturing machine to Santana Brothers, Inc. In lieu of a cash payment Santana gave Bowle a 2 year, $95,000.7% note la realistic rate of interest for a note of this type). The note required interest to be paid annually on August 1. Bowie's financial statements are prepared on a calendar-year basis. Which of the following is correct regarding the year end entry Bowie will make in regards to this note? None of these are correct Debit to interest revenue fo $2.771 Debit to discount on note receive for $6,650 o Debit to discount on note receivable for $2.771 Debit to interest receivable for $325 Question 22 3 pts In preparing its bank reconciliation for the month of October 2020. Lincoln, Inc. has the following information available Balance per bank statement, 10/31/20 $102 420 1,350 NSF check returned with 10/31/20 bank statement Deposits in transit. 10/31/20 15,000 Outstanding checks, 10/31/20 15,600 Bank service charges for April 60 Note collected for depositor including S40 Interest 1.560 What should be the correct balance of cash at October 31, 2020? 5100 410 O 5101,820 None of these are correct O 5100 380 O 5100 470