Fourth Company receives a note from a customer for a $15,000 sale.On the date of sale,what journal entry did Fourth Company prepare? Ignore cost of goods sold.
A) debit Accounts Receivable for $15,000 and credit Sales Revenue for $15,000
B) debit Notes Receivable for $15,000 and credit Cash for $15,000
C) debit Notes Receivable for $15,000 and credit Sales Revenue for $15,000
D) debit Cash for $15,000 and credit Notes Receivable for $15,000
Correct Answer:
Verified
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