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Jerris Jewelry accepted a TL2.400 note receivable from S. Wells in settlement of an old account receivable. The 10% note was dated October 2, 2009,
Jerris Jewelry accepted a TL2.400 note receivable from S. Wells in settlement of an old account receivable. The 10% note was dated October 2, 2009, and was due in 120 days. What is the journal entry on Jerris books on October 2, 2009?
| a. | Note Receivable | 2.400 |
| |
|
| Sales Revenue |
| 2.400 | |
| b. | Note Receivable | 2.400 |
| |
|
| Cash |
| 2.400 | |
| c. | Note Receivable | 2.400 |
| |
|
| Accounts Receivable |
| 2.400 | |
| d. | none of the above |
|
| |
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