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Author Question: A document that is issued when credit is given for merchandise returned or for an allowance is ... (Read 149 times)

arivle123

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on: Jul 5, 2018
A document that is issued when credit is given for merchandise returned or for an allowance is called a(n) ___________________ _.
 Fill in the blank(s) with correct word

Question 2

Acme, Inc. accepted a promissory note from NadirCo, who promised to pay Acme 5,000 plus 6 interest at the end of four months. When Acme first accepts the note, it should record a ________.
 
  A) note payable of 5,000
  B) note receivable of 5,000
  C) note payable of 5,100
  D) note receivable of 5,150


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mcomstock09

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Reply #1 on: Jul 5, 2018
Answer to Question 1

credit memo

Answer to Question 2

B


arivle123

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Reply #2 on: Jul 5, 2018
Thank you :)


mcomstock09

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Reply #3 on: Jul 5, 2018
Happy to help you


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