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Giorgio Italian Market bought $10,500 worth of merchandise from Food Suppliers and signed a 120-day, 6% promissory note for the $10,500. Food Supplier's journal entry
Giorgio Italian Market bought $10,500 worth of merchandise from Food Suppliers and signed a 120-day, 6% promissory note for the $10,500. Food Supplier's journal entry to record the sales transaction is: |
A.) Debit Notes Receivable $10,500; credit Sales $10,500.
B.) Debit Notes Receivable $10,500; debit Interest Receivable $210; credit Sales $10,710.
C.) Debit Accounts Receivable $10,500; credit Sales $10,500.
D.) Debit Notes Receivable $10,710; credit Sales $10,710.
E.) Debit Accounts Receivable $10,710; credit Sales $10,710.
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