Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. giorgio italian market bought $7,600 worth of merc

Giorgio Italian Market bought $7,600 worth of merchandise from Food Suppliers and signed a 75-day,...

80.2K

Verified Solution

Question

Accounting

Giorgio Italian Market bought $7,600 worth of merchandise from Food Suppliers and signed a 75-day, 6% promissory note for the $7,600. Food Supplier's journal entry to record the sales transaction is:

Multiple Choice

  • Debit Notes Receivable $7,600; credit Sales $7,600.

  • Debit Notes Receivable $7,600; debit Interest Receivable $95; credit Sales $7,695.

  • Debit Accounts Receivable $7,695; credit Sales $7,695.
  • Debit Accounts Receivable $7,600; credit Sales $7,600.
  • Debit Notes Receivable $7,695; credit Sales $7,695.
Next

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Select the correct statements A Over a boundary surface value of probability density lyf is...

Physics
Q

A study was conducted to determine if the amount a college student spends per month...

Statistics
Q

McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell...

Finance
Q

Select one type of retailer from each of the 3 categories (food, general merchandise, and service-NOTE:...

Accounting
Q

1. What is the working principle of a photodiode? Give three examples of photodiodes’ real-life applications. 2....

Physics
Q

if the condenser fan motor fails and the unit continues to run.. what will happen?

Mechanical Engineering
Q

Mom is heterozygous blood type B and dad is blood type O What is the...

Biology
Q

The sales tax rate in Fort Worth, Texas, is 8.25%. Find the tax charged ona...

Basic Math
Q

Find a center of mass of a thin plate of density 8 6 bounded by...

Calculus
Q

Find the maximum revenue for the revenue function R x 353x 0 6x2 Round your...

Algebra
Q

15 Sales = 500,000 Margin = 15% ROI = 30% Required Rate of Return =...

Accounting
Q

The following data are for the Akron Division of Consolidated Rubber, Inc.: Sales Net operating...

Accounting