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.