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Swifty Corporation receives a $13500, 9-month, 8% promissory note from Pharoah Company in settlement of an open accounts receivable. What entry will Swifty Corporation make
Swifty Corporation receives a $13500, 9-month, 8% promissory note from Pharoah Company in settlement of an open accounts receivable. What entry will Swifty Corporation make upon receiving the note? Notes Receivable 13500 13500 Accounts Receivable-Pharoah Company Notes Receivable 13500 Interest Receivable 810 13500 Accounts Receivable-Pharoah Company Interest Revenue 810 Notes Receivable 14310 14310 Accounts Receivable-Pharoah Company Notes Receivable 14310 13500 Accounts Receivable-Pharoah Company Interest Revenue 810
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