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Giorgio Italian Market bought $4600 worth of merchandise from Food Suppliers and signed a 90-day, 6% promissory note for the $4.500. Food Supplier's journal entry
Giorgio Italian Market bought $4600 worth of merchandise from Food Suppliers and signed a 90-day, 6% promissory note for the $4.500. Food Supplier's journal entry to record the collection on the maturity date is (Use 360 days a year) Multiple Choice Debit Cash $4,669, credit Notes Receivable $4,669 Debit Notes Receivable $4,600; credit Cash $4,600 Debit Cash $4,600: debit Interest Receivable $69. credit Sales $4,669 Debit Notes Receivable $4,669. credit Sales $4,669 Debit Cash $4,669, credit Interest Revenue $69, credit Notes Receivable $4,600
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