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Jax Recording Studio purchased $8,200 in electronic components from Music World. Jax signed a 90-day, 10% promissory note for $8,200. Music World's journal entry to

Jax Recording Studio purchased $8,200 in electronic components from Music World. Jax signed a 90-day, 10% promissory note for $8,200. Music World's journal entry to record the sales transaction is:

Debit Notes Receivable $8,405; debit Interest Receivable $205; credit Sales $8,200

Debit Notes Receivable $8,405; credit Sales $8,405

Debit Accounts Receivable $8,405; credit Sales $8,405

Debit Accounts Receivable $8,200; credit Sales $8,200

Debit Notes Receivable $8,200; credit Sales $8,200

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