Ace Electronics accepted a promissory note from Fenstermaker,who promised to pay Ace $2,000 plus 6% interest at the end of six months.When Ace first accepts the note,it should record ________.
A) a note payable of $2,000
B) a note receivable of $2,000
C) a note payable of $2,060
D) a note receivable of $2,060
Correct Answer:
Verified
Q124: Acme,Inc.accepted a promissory note from NadirCo,who promised
Q125: The amount of interest revenue recorded during
Q126: The Magic Cow accepts MasterCard.A customer made
Q127: Why are credit card sales important to
Q128: Acme,Inc.accepted a promissory note from NadirCo,who promised
Q130: MasterCard charges Team Shirts 4% of sales.On
Q131: Acme,Inc.accepted a promissory note from NadirCo,who promised
Q132: Fox Company accepts VISA from its customers.VISA
Q133: Acme,Inc.accepted a promissory note from NadirCo,who promised
Q134: Ace Electronics accepted a promissory note from
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents