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7. value: 3.33 points Giorgio Italian Market bought $7,600 worth of merchandise from Food Suppliers and signed a 75-day, 6% promissory note for the $7,600.
7. value: 3.33 points Giorgio Italian Market bought $7,600 worth of merchandise from Food Suppliers and signed a 75-day, 6% promissory note for the $7,600. Food Supplier's journal entry to record the sales transaction is: Debit Accounts Receivable $7,695; credit Sales $7,695. Debit Notes Receivable $7,600; credit Sales $7,600. Debit Notes Receivable $7,600; debit Interest Receivable $95; credit Sales $7,695. Debit Notes Receivable $7,695; credit Sales $7,695. O Debit Accounts Receivable $7,600; credit Sales $7,600
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