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Paper Company receives a $3,473, 3-month, 11% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make
Paper Company receives a $3,473, 3-month, 11% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make upon receiving the note?
Select the correct answer.
Paper Company receives a $3,473, 3-month, 11% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make upon receiving the note? Select the correct answer. $3,473 $3,473 $3,569 Notes Receivable-Dame Company Accounts ReceivableDame Company O Notes Receivable-Dame Company Interest Receivable Accounts Receivable-Dame Company Interest Receivable O Notes Receivable-Dame Company Accounts Receivable-Dame Company Notes Receivable-Dame Company Accounts Receivable-Dame Company Interest Revenue $96 $3,473 $96 $3,569 $3,569 $3,569 $3,473 $96
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