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Vaughn manufacturing receives a 10400 what entry will

Problem - Vaughn Manufacturing receives a $10400, 6-month, 6% promissory note from Wildhorse Co. in settlement of an open accounts receivable. What entry will Vaughn Manufacturing make upon receiving the note?

Notes Receivable 10400

Accounts Receivable-Wildhorse Co. 10400

Notes Receivable 10712

Accounts Receivable-Wildhorse Co. 10400

Interest Revenue 312

Notes Receivable 10712

Accounts Receivable-Wildhorse Co. 10712

Notes Receivable 10400

Interest Receivable 312

Accounts Receivable-Wildhorse Co. 10400

Interest Revenue 312

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Accounting Basics: Vaughn manufacturing receives a 10400 what entry will

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Accounting Basics: Vaughn manufacturing receives a 10400 what entry will

Reference No:- TGS02406905

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