TB MC Qu. 07-116 (Algo) Giorgio Italian Market bought... Giorgio Italian Market bought $5,200 worth of merchandise from Food Suppliers and signed a 90-day, 6% promissory note for the $5,200. Food Supplier's journal entry to record the collection on the maturity date is: (Use 360 days a year.) Multiple Choice Debit Cash $5,278; credit Notes Receivable $5,278 Debit Notes Receivable $5,200; credit Cash $5,200 O Debit Cash $5,200; debit Interest Receivable $78; credit Sales $5,278 Debit Notes Receivable $5,278; credit Sales $5,278
TB MC Qu. 07-116 (Algo) Giorgio Italian Market bought... Giorgio Italian Market bought $5,200 worth of merchandise from Food Suppliers and signed a 90-day, 6% promissory note for the $5,200. Food Supplier's journal entry to record the collection on the maturity date is: (Use 360 days a year.) Multiple Choice Debit Cash $5,278; credit Notes Receivable $5,278 Debit Notes Receivable $5,200; credit Cash $5,200 O Debit Cash $5,200; debit Interest Receivable $78; credit Sales $5,278 Debit Notes Receivable $5,278; credit Sales $5,278
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...
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![TB MC Qu. 07-116 (Algo) Giorgio Italian Market bought...
Giorgio Italian Market bought $5,200 worth of merchandise from Food Suppliers and signed a 90-day, 6%
promissory note for the $5,200. Food Supplier's journal entry to record the collection on the maturity date is:
(Use 360 days a year.)
k
Multiple Choice
ices
Debit Cash $5,278; credit Notes Receivable $5,278
Debit Notes Receivable $5,200; credit Cash $5,200
Debit Cash $5,200; debit Interest Receivable $78; credit Sales $5,278
Debit Notes Receivable $5,278; credit Sales $5,278
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Transcribed Image Text:TB MC Qu. 07-116 (Algo) Giorgio Italian Market bought...
Giorgio Italian Market bought $5,200 worth of merchandise from Food Suppliers and signed a 90-day, 6%
promissory note for the $5,200. Food Supplier's journal entry to record the collection on the maturity date is:
(Use 360 days a year.)
k
Multiple Choice
ices
Debit Cash $5,278; credit Notes Receivable $5,278
Debit Notes Receivable $5,200; credit Cash $5,200
Debit Cash $5,200; debit Interest Receivable $78; credit Sales $5,278
Debit Notes Receivable $5,278; credit Sales $5,278
< Prev
11 of 20
Next
MAR
15
éty
MacBook Air
80
DD
F2
F3
F4
F5
F6
F7
F8
F9
@
%23
2$
%
&
2
4
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8
W
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< cO
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