Sorenson Co accepts a ( $ 1,000,3 ) month, (12 ) promissory note in settlement of an account with Parton Co The entry to record this transaction is as follows a Notes Receivable 1,030 Accounts Receivable 1,030 b Notes Receivable 1,000 Accounts Receivable 1,000 c Notes Receivable 1,000 Sales 1,000 d...

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Sorenson Co. accepts a ($ 1,000,3)-month, (12 %) promissory note in settlement of an account with Parton

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Sorenson Co. accepts a $\$ 1,000,3$-month, $12 \%$ promissory note in settlement of an account with Parton Co. The entry to record this transaction is as follows:

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 13, 2024 02:09 AM

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Sorenson Co. accepts a ($ 1,000,3)-month, (12 %) promissory note in settlement of an account with Parton

Question:

a. Notes Receivable 1,030 Accounts Receivable 1,030 b. Notes Receivable 1,000 Accounts Receivable 1,000 c. Notes Receivable 1,000 Sales 1,000 d. Notes Receivable 1,020 Accounts Receivable 1,020

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Financial Accounting

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