Solved

Giorgio Italian Market Bought $4,000 Worth of Merchandise from Food

Question 94

Multiple Choice

Giorgio Italian Market bought $4,000 worth of merchandise from Food Suppliers and signed a 90-day, 6% promissory note for the $4,000.
-Food Supplier's journal entry to record the sales transaction is:


A) Debit Notes Receivable $4,000; debit Interest Receivable $60; credit Sales $4,060
B) Debit Notes Receivable $4,060; credit Sales $4,060
C) Debit Accounts Receivable $4,060; credit Sales $4,060
D) Debit Notes Receivable $4,000; credit Sales $4,000
E) Debit Accounts Receivable $4,000; credit Sales $4,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions