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On November 1, Orpheum Company accepted a $11,500, 90-day, 8% note from a customer to replace an account receivable. What entry should be made by
On November 1, Orpheum Company accepted a $11,500, 90-day, 8% note from a customer to replace an account receivable. What entry should be made by Orpheum on the November 1 to record the acceptance of the note?
DNR $11500; CC $11,500
DNR $11500; CAR $11500
DNR $11500; CS $11500
DNR $11730; CAR $11500; CIR $230
DS $11500; CAR $11500
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