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8.) On January 15, 2010, Raymond Company received a two-month, 9%, $5,000 note Pentel for the settlement of his open account. The entry by Raymond
8.) On January 15, 2010, Raymond Company received a two-month, 9%, $5,000 note Pentel for the settlement of his open account. The entry by Raymond Company on March ved a two-month, 9%, $5,000 note from William Pentel dishonors the note and collection is expected is: C 5,075 Accounts Receivable-W. Pentel Notes Receivable Interest Revenue 5,000 75 5,075 Bad Debts Expense Notes Receivable 5,075 4,925 75 Accounts Receivable-W. Pentel Interest Lost Notes Receivable 5,000 5,000 Accounts Receivable-W. Pentel Notes Receivable 5,000
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