Multiple Choice
Fourth Company receives a note from a customer for a $6000 sale. On the date of sale, what journal entry did Fourth Company prepare? Ignore cost of goods sold.
A) debit Accounts Receivable for $6000 and credit Sales Revenue for $6000
B) debit Notes Receivable for $6000 and credit Cash for $6000
C) debit Notes Receivable for $6000 and credit Sales Revenue for $6000
D) debit Cash for $6000 and credit Notes Receivable for $6000
Correct Answer:

Verified
Correct Answer:
Verified
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