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On July 9, Mifflin Company receives a $9,300, 120-day, 12% note from customer Payton Summers as payment on account. What entry should be made on
On July 9, Mifflin Company receives a $9,300, 120-day, 12% note from customer Payton Summers as payment on account. What entry should be made on July 9 to record receipt of the note? Multiple Choice Debit Notes Receivable $9,300; credit Sales $9,300. Debit Notes Receivable $9,300; credit Accounts Receivable $9,300. Debit Notes Receivable $9,669; credit Interest Revenue $369; credit Accounts Receivable $9,300. Debit Notes Receivable $9,672; credit Sales $9,672. Debit Accounts Receivable $9,300; credit Sales $9,300.
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