Multiple Choice
Fourth Company receives a note from a customer for a $5,000 sale.On the date of sale,what journal entry did Fourth Company prepare?
A) debit Accounts Receivable for $5,000 and credit Sales Revenue for $5,000
B) debit Notes Receivable for $5,000 and credit Cash for $5,000
C) debit Notes Receivable for $5,000 and credit Sales Revenue for $5,000
D) debit Cash for $5,000 and credit Notes Receivable for $5,000
Correct Answer:
Verified
Correct Answer:
Verified
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