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Swifty Corporation sold $111000 of goods and accepted the customer's $111000 9%, 1-year note receivable in exchange. Assuming 8% approximates the market rate of return,
Swifty Corporation sold $111000 of goods and accepted the customer's $111000 9%, 1-year note receivable in exchange. Assuming 8% approximates the market rate of return, what would be the debit in this journal entry to record the sale?
| Debit Notes Receivable for $111000. |
| No journal entry until cash is collected. |
| Debit Accounts Receivable for $111000. |
| Debit Notes Receivable for $101010. |
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