6 On November 1, Orpheum Company accepted a $12,200, 90-day, 8% note from a customer to settle an account. What entry should be made on the November 1 to record the note acceptance? Multiple Choice Debit Note Receivable $12,200; credit Cash $12,200. Debit Note Receivable $12,200; credit Accounts Receivable $12,20O. Debit Note Receivable $12,200; credit Sales $12,200. Debit Note Receivable $12,444; credit Accounts Receivable $12,200; credit Interest Revenue MacKenzie Company sold $620 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% service charge for sales on its credit cards and credits MacKenzie's account immediately when sales are made. The journal entry to record this sale transaction would be: Multiple Choice Debit Cash of $620 and credit Sales $620. Debit Cash of $620 and credit Accounts Receivable $620. Debit Accounts Receivable $620 and credit Sales $620. Debit Cash $610.70; debit Credit Card Expense $9.30 and credit Sales $620. 00 Jasper makes a $88,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should 9 be: Multiple Choice Debit Notes Receivable for $88,000; credit Cash $88,00O. Debit Accounts Receivable $88,000; credit Notes Receivable $88,000. Debit Cash $88,000; credit Notes Receivable for $88,000. Debit Notes Payable $88,000; credit Accounts Payable $88,000. Giorgio Italian Market bought $6,800 worth of merchandise from Food Suppliers and signed a 90-day, 10% promissory note for the $6,800. Food Supplier's journal entry to record the collection on the maturity date is: (Use 360 days a year.) 10 Multiple Choice Debit Cash $6,970; credit Notes Receivable $6,970 Debit Notes Receivable $6,800; credit Cash $6,800 Debit Cash $6,800; debit Interest Receivable $170; credit Sales $6,970 Debit Notes Receivable $6,970; credit Sales $6,970