On January 10, 2001, Raja Co. sold merchandise on account to R. Opal for $12,000, terms n/30.

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On January 10, 2001, Raja Co. sold merchandise on account to R. Opal for $12,000, terms n/30. On February 9 R. Opal gave Raja Co. a 10% promissory note in set- tlement of this account. Prepare the journal entry to record the sale and the settlement of the accounts receivable.

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471347743

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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