Sarah purchased merchandise from SAAD on October 17 of the current year. SAAD accepted ALIS...
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Accounting
Sarah purchased merchandise from SAAD on October 17 of the current year. SAAD accepted ALIS $10,000, 90-day, 10% note as payment. What entry should SAAD make on January 15 of the next year when the note is paid? A.
Notes Receivable
10,000
Interest Receivable
250
Sales
10,250
B.
Cash
10,250
Notes Receivable
10,250
C.
Cash
10,250
Interest Revenue
208
Interest Receivable
42
Notes Receivable
10,000
D.
Cash
10,250
Interest Revenue
42
Interest Receivable
208
Notes Receivable
10,000
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