Question
Multiple Choice Question 154 Vaughn Manufacturing receives a $10400, 6-month, 6% promissory note from Wildhorse Co. in settlement of an open accounts receivable. What entry
Vaughn Manufacturing receives a $10400, 6-month, 6% promissory note from Wildhorse Co. in settlement of an open accounts receivable. What entry will Vaughn Manufacturing make upon receiving the note?
Notes Receivable
10400
Accounts Receivable-Wildhorse Co.
10400
Notes Receivable
10712
Accounts Receivable-Wildhorse Co.
10400
Interest Revenue
312
Notes Receivable
10712
Accounts Receivable-Wildhorse Co.
10712
Notes Receivable
10400
Interest Receivable
312
Accounts Receivable-Wildhorse Co.
10400
Interest Revenue
312
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Survey of Accounting
Authors: Carl S. Warren
7th edition
1285974360, 1285183487, 9781285974361, 978-1285183480
