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Paper Company receives a $ 6 , 0 0 0 , 3 - month, 6 % promissory note from Dame Company in settlement of an
Paper Company receives a $month, promissory note from Dame Company in settlement of an open account receivable. What entry will Paper Company make upon receiving the note? a Account Debit Credit Notes ReceivableDame Company Accounts ReceivableDame Company b Account Debit Credit Notes ReceivableDame Company Accounts ReceivableDame Company Interest Revenue c Account Debit Credit Notes ReceivableDame Company Accounts ReceivableDame Company d Account Debit Credit Notes ReceivableDame Company Interest Revenue Accounts ReceivableDame Company Interest Receivable
Paper Company receives a $month, promissory note from Dame Company in settlement of an open account receivable. What entry will Paper Company make upon receiving the note?
a
Account Debit Credit
Notes ReceivableDame Company
Accounts ReceivableDame Company
b
Account Debit Credit
Notes ReceivableDame Company
Accounts ReceivableDame Company
Interest Revenue
c
Account Debit Credit
Notes ReceivableDame Company
Accounts ReceivableDame Company
d
Account Debit Credit
Notes ReceivableDame Company
Interest Revenue
Accounts ReceivableDame Company
Interest Receivable
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