A document that is issued when credit is given for merchandise ...

[arivle123]

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

[mcomstock09]

Answer to Question 1

credit memo

Answer to Question 2

B

[arivle123]

Thank you

[mcomstock09]

Happy to help you