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Diamond Jim Candy Store purchased $5,200 in vending machines from Alpha Manufacturing by signing a 90-day, 12% promissory note for $5,200. Diamond Jim's journal entry
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Diamond Jim Candy Store purchased $5,200 in vending machines from Alpha Manufacturing by signing a 90-day, 12% promissory note for $5,200. Diamond Jim's journal entry to record the sales portion of the transaction is:
Accounts Receivable 5,200
Sales 5,200
Sales 5,824
Accounts Receivable 5,824
Notes Receivable 5,200
Sales 5,200
Notes Receivable 5,824
Sales 5,824
Notes Receivable 5,200
Interest Receivable 624
Sales 5,824
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