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Question 11 (4 points) Assume GPA Corp agreed to accept $903 in cash along with a $2,500, 160-day,17% note from Jo Cook to settle her
Question 11 (4 points) Assume GPA Corp agreed to accept $903 in cash along with a $2,500, 160-day,17% note from Jo Cook to settle her $3,403 past-due account. Record the transaction. a) Debit Cash 903, Debit Notes Receivable 2,500 and Credit Accounts Receivable 3,403 b) Debit Cash 903, Debit Accounts Receivable 2,500 and Credit Notes Receivable 3,403 c) Debit Accounts Receivable 3,403, Credit Notes Receivable 2,500 and Credit Cash 903 d) None of these entries is correct
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