Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Paoli Pizza bought $10,800 worth of merchandise from TechCom and signed a 60-day, 7% promissory note for the $10,800. TechCom's journal entry to record the sales portion of the transaction is (Use 360 days a year. Do not round intermediate calculations):

a) Debit Accounts Receivable $10,926; credit Sales $10,926.

b) Debit Notes Receivable $10,800; debit Interest Receivable $126; credit Sales $10,926.

c) Debit Notes Receivable $10,800; credit Sales $10,800.

d) Debit Accounts Receivable $10,800; credit Sales $10,800.

e) Debit Notes Receivable $10,926; credit Sales $10,926.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M939806

Have any Question? 


Related Questions in Accounting Basics

Determining adjusting entries and tracingtheir effects to

Determining Adjusting Entries and Tracing Their Effects to Financial Statements Tim Angel opened a small travel agency. At the end of its second year of operation, Angel Travel, Inc., had the trial balance shown below. A ...

Excel formulas functions assignment depreciation

EXCEL FORMULAS / FUNCTIONS Assignment Depreciation Schedule Learning Objectives: 1. Creating Range Names 2. Creating variable Comments 3. Using Absolute and Relative References 4. Creating Formulas using following functi ...

Practice questionsdescribe a situation in which two of the

Practice questions: Describe a situation in which two of the main accounting concepts might be in conflict. Explain what you consider the correct accounting treatment should be.

Treatment of intangible assets and impairmentsdetermine

Treatment of Intangible Assets and Impairments Determine accounting alternatives for intangibles. There are a number of differences between IFRS and U.S. GAAP for the treatment of intangible assets and impairments. The i ...

Discussion questions- intermediate accounting 22please

Discussion Questions- Intermediate Accounting 22 Please answer each of the 4 question compounds in at least 200 words., for an 800 word total paper. Please asnwer them individually. Thank you 1. What is a change in accou ...

Practice questionsdescribe the information needs of three

Practice questions: Describe the information needs of three different types of users of financial information and discuss how well these needs are met by the annual report and accounts.

Practice questionsdistinguish betweennormal lossesabnormal

Practice questions: Distinguish between normal losses abnormal losses and explain their costing treatments.

The puffing billy scenarioas a graduate of the bachelor of

The Puffing Billy Scenario As a graduate of the Bachelor of Business (Accounting) from Holmesglen you found a profitable niche developing custom databases for small enterprises. Your first client is the Puffing Billy Pre ...

Classifying costs as materials labor or factory overhead

Classifying costs as materials, labor, or factory overhead Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead c ...

Contaminated blood culture specimens in the emergency

Contaminated Blood Culture Specimens in the Emergency Department: Making the Business Case for Improving Quality 1. Scenario. As part of an organization-wide performance improvement initiative to address the accuracy and ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate