Signed a 90-day, 10% note a. Debit Cash, credit Notes Receivable b. Debit Cash, credit Notes Payable
Question:
Signed a 90-day, 10% note
a. Debit Cash, credit Notes Receivable
b. Debit Cash, credit Notes Payable
c. Debit Accounts Receivable, credit Cash
d. Debit Cash, credit Accounts Receivable
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 41% (12 reviews)
Accounts receivable are the funds that customers owe your ...View the full answer
Answered By
Hardik Dudhat
I am semi-qualified Chemical Engineering ,I have scored centum in accounting in my senior secondary and in my graduation. I have always helped my fellow students with their concerns on the subject, i have tutored on various tutoring sites in the past and also have taken home tuitions for degree and MBA students. As a tutor, I don't want my students to just get a solution, I want them to understand the concept and never have a doubt in that area thereon and i believe in excelling and not in educating.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Notes receivable differ from accounts receivable in that notes receivable represent written debt instruments. What is one other common difference between notes receivable and accounts receivable?
-
Accounts Payable Accounts Receivable Cash Inventory and Sales Revenue are not involved in the Other Accounts column in either the cash receipts or cash payments journal and are not involved in any...
-
Which of the following accounts would be classified as current assets on the balance sheet? a) Marketable securities, accounts payable, property, plant and equipment. b) Prepaid expenses, goodwill,...
-
Is the process for issuing a standard sufficient to ensure that all interested parties are consulted? What are the benefits and potential limitations of the process?
-
The manager of the OBrian Glass Company is planning the production of automobile windshields for the next four months. The demand for the next four months is projected to be as shown in the following...
-
Do you think Dinah was right? Why or why not? If you were she and you had to do it all over again, would you do anything differently? If so, what and why?
-
Demonstrate use of the analytic hierarchy process (AHP) tool to select project suppliers.
-
1. Dave is not absolutely sure that the "side" constraint of at least as much gas A as gas B is necessary. What is this constraint costing the company? That is, how much more revenue could Jansen...
-
Use the vectors u=2i-3j.v=-2i-4j, and w=3i-j a) Find u+(vw) b) Find 4v - Zu
-
If capital gains were to be taxed at a lower rate than ordinary income, as has been the case in the past, what types of investments would be favored?
-
Explain what a promissory note is and distinguish between the two types, notes payable and notes receivable.
-
Jacqueline earns 18% commission on sales. Her sales for three months were: $2,870, $3,150, and $3,940. What was her total commission for the three months? a. $9,960.00 b. $1,792.08 c. $1,792.80 d....
-
A chemical company is considering locating a plant on the outskirts of a certain town. Although the town welcomes the benefits that this plant will bring, some residents have expressed concern about...
-
Why are private equity funds very controversial? Hedge funds?
-
How do lags in the effects of policy action on output and inflation bolster the case for central bank independence?
-
Why is it said that investment risk is borne by the employer in a DB plan and a worker in a DC plan? Why might employers favor DC plans over DB plans? Which plan requires the greater level of...
-
How would longer life expectancies affect the pricing of life insurance policies? Annuities?
-
What is the difference between a spot and a forward exchange transaction? In what category does a foreign exchange swap appear?
-
How would you describe the principle of computer-aided manufacturing to an older worker in a manufacturing facility who has only elementary knowledge of computers?
-
Name some of the various types of financial intermediaries described in the chapter and indicate the primary reason(s) each was created.
-
An investment under consideration has a payback of six years and a cost of $648,000. If the required return is 12 percent, what is the worst-case NPV? The best-case NPV? Explain. Assume the cash...
-
Matta Manufacturing is trying to decide between two different conveyor belt systems. System A costs $490,000, has a four-year life, and requires $135,000 in pretax annual operating costs. System B...
-
Vandalay Industries is considering the purchase of a new machine for the production of latex. Machine A costs $2,900,000 and will last for six years. Variable costs are 35 percent of sales, and fixed...
-
6. (8 points) A spooky ghost is spotted initially <3, 1 > blocks from a haunted house. After 50 seconds later, the spooky ghost was spotted < -2, -3 > blocks away from the same haunted house. A...
-
Assume a rope of non-negligible mass M, pulls a block of mass M, with a non-zero acceleration on a horizontal frictionless plane. a) Show that if M, < < M,, the tension at each end of the rope is...
-
In outer space, a constant force is applied to a 33.3 kg probe initially at rest. The probe moves a distance of 105 m in 14 s. Part A What acceleration does this force produce? Express your answer in...
Study smarter with the SolutionInn App