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On February 7, McGraw Company sold goods on account to Hill Enterprises for $2,500, terms 2/10,n/30. On March 9, Hill gave McGraw a 60-day, 10%
On February 7, McGraw Company sold goods on account to Hill Enterprises for $2,500, terms 2/10,n/30. On March 9, Hill gave McGraw a 60-day, 10% promissory note in settlement of the account. Record the sale and the acceptance of the promissory note on the books of McGraw Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date February 7 March 9
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