Question
Tamarisk, Inc. receives a $10500, 3-month, 8% promissory note from Nash's Trading Post, LLC in settlement of an open accounts receivable. What entry will Tamarisk,
Tamarisk, Inc. receives a $10500, 3-month, 8% promissory note from Nash's Trading Post, LLC in settlement of an open accounts receivable. What entry will Tamarisk, Inc. make upon receiving the note?
A.Notes Receivable 10500
Accounts Receivable-Nash's Trading Post, LLC 10500
B.Notes Receivable 10500
Interest Receivable 210
Accounts Receivable-Nash's Trading Post, LLC 10500
Interest Revenue 210
C.Notes Receivable 10710
Accounts Receivable-Nash's Trading Post, LLC 10710
D.Notes Receivable 10710
Accounts Receivable-Nash's Trading Post, LLC 10500
Interest Revenue 210
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CISA Certified Information Systems Auditor Study Guide Aligned With The CISA Review Manual 2019 To Help You Audit Monitor And Assess Information Systems
Authors: Hemang Doshi
1st Edition
1838989587, 978-1838989583
