Question
any receives a $15000, 3-month, 12% promissory note from Sandhill Company in settlement of an open accounts receivable. What entry will Bonita Company make upon
any receives a $15000, 3-month, 12% promissory note from Sandhill Company in settlement of an open accounts receivable. What entry will Bonita Company make upon receiving the note?
| Notes Receivable | 15000 | |
| Interest Receivable | 450 | |
| Accounts ReceivableSandhill Company | 15000 | |
| Interest Revenue | 450 |
| Notes Receivable | 15450 | |
| Accounts ReceivableSandhill Company | 15450 |
| Notes Receivable | 15000 | |
| Accounts ReceivableSandhill Company | 15000 |
| Notes Receivable | 15450 | |
| Accounts ReceivableSandhill Company | 15000 | |
| Interest Revenue | 450 |
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Core Concepts of Accounting Information Systems
Authors: Mark G. Simkin, Jacob M. Rose, Carolyn S. Norman
12th edition
1118022300, 978-1118022306
