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Uniform Supply accepted a $4,800,90-day, 8% note from Tracy Janitorial on October 17 . If the note is dishonored, but Uniform Supply intends to continue
Uniform Supply accepted a $4,800,90-day, 8% note from Tracy Janitorial on October 17 . If the note is dishonored, but Uniform Supply intends to continue collection efforts, what entry should Uniform Supply make on January 15 of the next year? (Use 360 days a year.) Multiple Choice Debit Notes Receivable $4,800; debit Interest Receivable $96; credit Sales $4,896. Debit Cash $4,896; credit Interest Revenue $80; credit Interest Receivable $16, credit Notes Receivable $4,800. Debit Cash $4,896; credit Interest Revenue $16; credit Interest Receivable $80, credit Notes Receivable $4,800. Debit Accounts Receivable $4,896; credit Interest Revenue $16; credit Interest Receivable $80, credit Notes Receivable $4,800. Debit Cash $4,896; credit Notes Receivable $4,896
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