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Social Science Clinic => Accounting => Topic started by: azncindy619 on Feb 18, 2020

Title: On September 8, Alice paid $3,568 to Cheshire Co. to fulfill her promissory note agreement. Of the ...
Post by: azncindy619 on Feb 18, 2020

On September 8, Alice paid $3,568 to Cheshire Co. to fulfill her promissory note agreement. Of the $3,568, $400 is interest. The journal entry Cheshire Co. will record is to:
◦ debit Note Receivable/Alice, $3,568; credit Cash $3,168; credit Interest Revenue, $400.
◦ debit Cash, $3,568; credit Note Receivable/Alice, $3,568.
◦ debit Note Receivable/Alice, $3,568; credit Cash $3,568.
◦ debit Cash, $3,568; credit Note Receivable/Alice, $3,168; credit Interest Revenue, $400.

Title: On September 8, Alice paid $3,568 to Cheshire Co. to fulfill her promissory note agreement. Of the ...
Post by: frogdreck123456 on Feb 18, 2020

debit Cash, $3,568; credit Note Receivable/Alice, $3,168; credit Interest Revenue, $400.

Title: Re: On September 8, Alice paid $3,568 to Cheshire Co. to fulfill her promissory note agreement. Of t
Post by: Danh Nguyen on Oct 21, 2020

Thank you

Title: Re: On September 8, Alice paid $3,568 to Cheshire Co. to fulfill her promissory note agreement. Of t
Post by: Joley Ann on Apr 24, 2021

thank you