Question
Electron borrowed $75,000 from TechCom by signing a promissory note and pledging $85,000 in accounts receivable as security. TechCom's entry to record the transaction should
Electron borrowed $75,000 from TechCom by signing a promissory note and pledging $85,000 in accounts receivable as security. TechCom's entry to record the transaction should include a A. Debit to Notes Receivable for $75,000 B. Debit to Accounts Receivable for $75,000 C. Credit to Notes Receivable for $75,000 D. Debit Notes Payable for $75,000 E. Credit to Sales for $75,000
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
5th Canadian Edition
1119403995, 9781119403999
