Question

Giorgio italian market bought $4,000 worth of merchandise from food suppliers and signed a 90-day, 6% promissory note for the $4,000. food supplier's journal entry to record the sales transaction is:

Answer 1

[Debit] Accounts Receivable $4,000
[Credit] Sales $4,000

[Debit] Notes Receivable $4,000
[Credit] Accounts Receivable $4,000