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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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