Question: Mix Recording Studios purchased exist7.800 in electronic components from Tech Com. Mix Recording Studios signed a 60-day, 10% promissory note for exist7, 800. Tech com's

 Mix Recording Studios purchased exist7.800 in electronic components from Tech Com.

Mix Recording Studios purchased exist7.800 in electronic components from Tech Com. Mix Recording Studios signed a 60-day, 10% promissory note for exist7, 800. Tech com's journal entry to record the sales portion of the transaction is: (#95) A) Accounts Receivable. ______ 7.800 Saks ________7, 8W B) Accounts Receivable ________ 7, 930 Saka _________ 7, 930 C) Notes Receivable ________ 7, 800 Sales _________ 7, 800 D) Notes Receivable _______7, 930 Sales _________ 7, 930 E) Notes Receivable _______7, 800 Interest Receivable ________ 130 Sales _________ 7, 930 A) Item A B) Item B C) Item C D) Item D E) Item E When the maker of a note honors a note honors a note this indicates that the note is: (#97) A) Signed B) Paid in full. C) Guaranteed D) Notarized E) Cosigned Failure by a promissory note's maker to pay the amount due at maturity is known as: (#98) A) Protesting a note B) Closing a note C) Depreciating a note. D) Depreciating a note. E) Depreciating a note. Full Company holds a exist4,000, 8%, 45-day note of Harold Stone. On the maturity date Stone dishonors the note. Which of the following statements is true regarding Fall Company's journal entry to record this event? (#100) A) Fall Company has no entry to make. B) The entry will include a debit to interest revenue for exist40. C) The entry will include a befit to accounts receivable for exist4, 040. D) The entry will include a befit to accounts receivable for exist4,000. E) Both C and D are true statements

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