ACC 557 Week 6 Chapter 9 ( E9-9 , E9-11 , E9-12 , P9-3A ) FOR MORE CLASSES VISIT www . acc557tutor . com
$ 48,000 increase . 15- Multiple Choice Question 142
A 5 %, 120-day note receivable is received from a customer to settle an existing account receivable of $ 75,000 . Assuming a 360 day year , the accounting entry for acquisition of the note will include a
debit to Notes Receivable for $ 75,000 and no entry for interest . debit to Notes Receivable for $ 76,250 . debit to Notes Receivable for $ 78,720 . credit to Interest Revenue for $ 1,250 . ===================================================
ACC 557 Week 6 Chapter 9 ( E9-9 , E9-11 , E9-12 , P9-3A ) FOR MORE CLASSES VISIT www . acc557tutor . com
ACC 557 Week 6 Chapter 9 ( E9-9 , E9-11 , E9-12 , P9-3A )
E9-9 : Presented below are selected transactions at Tomas Company for 2014 .