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Music World sold $8,000 in electronic components to Jax Recording Studio. Jax signed a 60-day, 6% promissory note for $8,000. Music World's journal entry to
Music World sold $8,000 in electronic components to Jax Recording Studio. Jax signed a 60-day, 6% promissory note for $8,000. Music World's journal entry to record the sales transaction is:
Debit Notes Receivable $8,000; debit Interest Receivable $80; credit Sales $8,080
Debit Notes Receivable $8,080; credit Sales $8,080
Debit Notes Receivable $8,000; credit Sales $8,000
Debit Accounts Receivable $8,080; credit Sales $8,080
Debit Accounts Receivable $8,000; credit Sales $8,000
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