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Sleepy & Co . sold goods with a market price of $ 1 5 0 , 0 0 0 on April 1 . They accepted

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Sleepy & Co. sold goods with a market price of $150,000 on April 1. They accepted a note from Sneezy Inc. for $150,000 due in two years, with interest paid each year on April 1, bearing 8% interest. If 8% interest approximates the market rate of interest for this transaction, what journal entry should be recorded to record the sale (ignore Cost of Goods sold) when the sale takes place?
c. Debit Interest Receivable $12,000, credit literest Revichue: $12,000
b. Dobit Notes Receivable $174,000 : credit Sales Revenue $174,000
a. Debit Notes Receivable $150,000 crecit sales Rcivenue $150,000
d, Debit Interest Rcceivable $9,000, credit interest Revenue $9,000
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