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Current Attempt in Progress On January 10, 2021, Pharoah Kreations sold merchandise on account to Lechner & Associates for $16,300, n/30. On February 9, Lechner
Current Attempt in Progress On January 10, 2021, Pharoah Kreations sold merchandise on account to Lechner & Associates for $16,300, n/30. On February 9, Lechner gave Pharoah a 10% promissory note in settlement of this account. Prepare the journal entries to record the sale and the settlement of the accounts receivable. Ignore any inventory, cost of goods sold, and refund liability for the purposes of this question. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation (To record sale on account.) (Accept note for accounts receivable.) Debit Credit
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