Question
Paper Company receives a $4,966, 3-month, 7% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make
Paper Company receives a $4,966, 3-month, 7% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make upon receiving the note? Notes Receivable, Dame Company $4,966 Interest Revenue $87 Accounts Receivable, Dame Company $4,966 Interest Receivable $87 Notes Receivable, Dame Company $4,966 Accounts Receivable, Dame Company $4,966 Notes Receivable, Dame Company $5,053 Accounts Receivable, Dame Company $4,966 Interest Revenue $87 Notes Receivable, Dame Company $5,053 Accounts Receivable, Dame Company $5,053
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