Multiple Choice
Jax Recording Studio purchased $7,800 in electronic components from Music World.Jax signed a 60-day,8% promissory note for $7,800.Music World's journal entry to record the sales transaction is:
A) Debit Accounts Receivable $7,800;credit Sales $7,800
B) Debit Accounts Receivable $7,904;credit Sales $7,904
C) Debit Notes Receivable $7,800;credit Sales $7,800
D) Debit Notes Receivable $7,904;credit Sales $7,904
E) Debit Notes Receivable $7,800;debit Interest Receivable $104;credit Sales $7,904
Correct Answer:
Verified
Correct Answer:
Verified
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