Question
Gorgio Italian Market bought $5,000 worth of merchandise from Food Suppliers and signed a 90-day, 10% promissory note for the $5,000. Food Supplier's journal entry
| Gorgio Italian Market bought $5,000 worth of merchandise from Food Suppliers and signed a 90-day, 10% promissory note for the $5,000. Food Supplier's journal entry to record the sales transaction is: |
a Debit Accounts Receivable $5,000; credit Sales $5,000.
b Debit Notes Receivable $5,000; debit Interest Receivable $125; credit Sales $5,125.
c Debit Notes Receivable $5,125; credit Sales $5,125.
d Debit Accounts Receivable $5,125; credit Sales $5,125.
e Debit Notes Receivable $5,000; credit Sales $5,000.
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The Why And How Of Auditing Auditing Made Easy
Authors: Charles B. Hall
1st Edition
0578519739, 978-0578519739
