Foti Co. accepts a $1,000, 3 month, 6% promissory note in settlement of an account with Bartelt Co. The entry to record this transaction is as follows
|
a. Notes Receivable |
1,015 |
|
|
Accounts Receivable |
1,015 |
|
|
b. Notes Receivable |
1,000 |
|
|
Accounts Receivable |
1,000 |
|
|
c. Notes Receivable |
1,000 |
|
|
Sales Revenue |
1,000 |
|
|
d. Notes Receivable |
1,030 |
|
|
Accounts Receivable |
1,030 |