Question
On March 14, Teal Co. accepted a 120dau, 6% note in the amount of $10,000 from AZC Co., a customer. On the due date of
On March 14, Teal Co. accepted a 120dau, 6% note in the amount of $10,000 from AZC Co., a customer. On the due date of the note, AZC honors the note and pays in full. The journal entry that Teal would make to record payment of this note would include a credit to: Select all that apply
a) Note receivable for 10,200
b) Cash for 10,000
D) Interest revenue for 200
c) Interest receivable for 200
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Management Accounting Principles And Applications
Authors: Hugh Coombs, D Ellis Jenkins, David Hobbs
1st Edition
1412908434, 978-1412908436
