On January 10, 2010, Edmunds Co. sold merchandise on account to Jeff Gallup for $13,600, n/30. On

Question:

On January 10, 2010, Edmunds Co. sold merchandise on account to Jeff Gallup for $13,600, n/30. On February 9, Jeff Gallup gave Edmunds Co. a 10% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the account receivable.