bickner co accepts a 1 000 3 month 12 promissory note..., Receivables, Accounting

Test
Index

Question:Bickner Co. accepts a $1,000, 3-month, 12% promissory note in settlement of an account with Streisand Co. The entry to record this transcation is as follows.

A Title Dr Cr
Note Receivable $1030 ---
Accounts Receivable --- $1030
 
B Title Dr Cr
Note Receivable $1000 ---
Accounts Receivable --- $1000
 
C Title Dr Cr
Note Receivable $1000 ---
Sales --- $1000
 
D Title Dr Cr
Notes Receivable $1020 ---
Accounts Receivable --- $1020

Title	Dr	Cr
Note Receivable	$1030	---
Accounts Receivable	---	$1030

Title	Dr	Cr
Note Receivable	$1000	---
Accounts Receivable	---	$1000

Title	Dr	Cr
Note Receivable	$1000	---
Sales	---	$1000

Title	Dr	Cr
Notes Receivable	$1020	---
Accounts Receivable	---	$1020

/10

+ AnswerB

+ Report

Descriptive on Receivables Ebook

Total Preview: 940

Question:Bickner Co. accepts a $1,000, 3-month, 12% promissory note in settlement of an account with Streisand Co. The entry to record this transcation is as follows.

A TitleDrCrNote Receivable$1030---Accounts Receivable---$1030

B TitleDrCrNote Receivable$1000---Accounts Receivable---$1000

C TitleDrCrNote Receivable$1000---Sales---$1000

D TitleDrCrNotes Receivable$1020---Accounts Receivable---$1020

B

A
Title Dr Cr
Note Receivable $1030 ---
Accounts Receivable --- $1030

B
Title Dr Cr
Note Receivable $1000 ---
Accounts Receivable --- $1000

C
Title Dr Cr
Note Receivable $1000 ---
Sales --- $1000

D
Title Dr Cr
Notes Receivable $1020 ---
Accounts Receivable --- $1020