The journal entry is the method/technique that is used to record all the financial transactions incurred by a company into the journal
Step-by-step explanation:
The journal entry is the method/technique that is used to record all the financial transactions incurred by a company into the journal
The journal entry to record the sale and the settlement of the Account is shown below
On January 10, 2020, Prez Co. sold merchandise on account to Robertson for $15,600, terms n/30.
Dr Accounts Receivable 15,600
Cr Sales 15,600
On February 9,Robertsen Co gave Prez Co. a 10% promissory note in settlement of this account.
Dr Notes Receivable 15,600
Cr Accounts Receivable 15,600