Hughes Aircraft sold a four-passenger airplane for $380,000,receiving a $50,000 down payment and a 12% note for the balance.This transaction would include a:

Question

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Since the company received a 12% note for the balance, this indicates that the transaction involves a sale where the customer will make payments over time. Therefore, a debit to Notes Receivable is appropriate to record the amount due from the customer.

Hughes Aircraft Sold a Four-Passenger Airplane for $380,000,receiving a $50,000