Another customer of Brown Company settled a $1,000 Accounts Receivable by paying $700 cash and giving a note for $300. Record this transaction in the Brown Company’s accounts, given below.

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Cash (Increases) (Decreases) Beg. bal. 25,000 1,800 Accounts Receivable (Increases) (Decreases) Beg. bal. 5,000 1,800 Notes Receivable (Increases) (Decreases) Beg. bal. 1,200