Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Paoli pizza bought $5000 worth of merchandise from TechCom and signed a 90-day, 10% promissory note for the $5000. TechCom's journal entry to record the

Paoli pizza bought $5000 worth of merchandise from TechCom and signed a 90-day, 10% promissory note for the $5000. TechCom's journal entry to record the sales portion of the transaction is: A.) Debit Accounts Receivable $5000;credit sales $5000. B.) Debit Notes receivable $5000; Credit sales $5000C.) Debit accounts receivable $5125; credit sales $5125.D.) debit notes receivable $5125; credit sales $5125.E.) debit notes receivable $5000; debit interest receivable $125; credit sales $5125.

image text in transcribed
' mmwwvv'wmwmmnvwmnVrMw." fl ... WYNN." M

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Human Resource Management

Authors: Raymond Noe

5th Edition

0471737933, 9780471737933

More Books

Students also viewed these Accounting questions

Question

1. What does this mean for me?

Answered: 1 week ago