Multiple Choice
On January 15 2016 Jaymes Company received a two-month 4% $7000 note from Peter Long for the settlement of his open account. The entry by Jaymes Company on January 15 2016 would include a:
A) debit of $7047 to Notes Receivable.
B) debit of $7000 to Notes Receivable.
C) credit of $7047 to Accounts Receivable.
D) credit of $7000 to Notes Receivable.
Correct Answer:
Verified
Correct Answer:
Verified
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