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Paper Company receives a $3,928, three-month, 12% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company
Paper Company receives a $3,928, three-month, 12% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make upon receiving the note? a. Notes Receivable, Dame Company $3,928 Accounts Receivable, Dame Company $3,928 Ob. Notes Receivable, Dame Company $3,928 Interest Revenue $118 Accounts Receivable, Dame Company $3,928 Interest Receivable $118 c. Notes Receivable, Dame Company $4,046 Accounts Receivable, Dame Company $4,046 Od. Notes Receivable, Dame Company $4,046 Accounts Receivable, Dame Company $3,928 Interest Revenue $118
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