Question
Splish Brothers Inc. receives a $12500, 6-month, 6% promissory note from Oriole Company in settlement of an open accounts receivable. What entry will Splish Brothers
Splish Brothers Inc. receives a $12500, 6-month, 6% promissory note from Oriole Company in settlement of an open accounts receivable. What entry will Splish Brothers Inc. make upon receiving the note?
| Notes Receivable | 12500 |
| |
| Interest Receivable | 375 |
| |
|
| Accounts Receivable-Oriole Company |
| 12500 |
|
| Interest Revenue |
| 375 |
| Notes Receivable | 12500 |
| |
|
| Accounts Receivable-Oriole Company |
| 12500 |
| Notes Receivable | 12875 |
| |
|
| Accounts Receivable-Oriole Company |
| 12500 |
|
| Interest Revenue |
| 375 |
| Notes Receivable | 12875 |
| |
|
| Accounts Receivable-Oriole Company |
| 12875 |
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Factory Accounts
Authors: John Whitmore
1st Edition
0367494825, 9780367494827
