Tamarisk, Inc. receives a $10500, 3-month, 8% promissory note from Nash's Trading Post, LLC in settlement of an open accounts receivable. What entry will Tamarisk, Inc. make upon receiving the note? A.Notes Receivable 10500 Accounts Receivable-Nash's Trading Post, LLC 10500 B.Notes Receivable 10500 Interest Receivable 210 Accounts Receivable-Nash's Trading Post, LLC 10500 Interest Revenue 210 C.Notes Receivable 10710 Accounts Receivable-Nash's Trading Post, LLC 10710 D.Notes Receivable 10710 Accounts Receivable-Nash's Trading Post, LLC 10500 Interest Revenue 210

Tamarisk, Inc. receives a $10500, 3-month, 8% promissory note from Nash's Trading Post, LLC in settlement of an open accounts receivable. What entry will Tamarisk, Inc. make upon receiving the note? A.Notes Receivable 10500 Accounts Receivable-Nash's Trading Post, LLC 10500 B.Notes Receivable 10500 Interest Receivable 210 Accounts Receivable-Nash's Trading Post, LLC 10500 Interest Revenue 210 C.Notes Receivable 10710 Accounts Receivable-Nash's Trading Post, LLC 10710 D.Notes Receivable 10710 Accounts Receivable-Nash's Trading Post, LLC 10500 Interest Revenue 210

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Paper Company receives a $6,000, 3-month, 6% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make upon receiving the note?
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