Emporium bank lends money to a customer on a six month note. What journal entry does the bank prepare? A. Debit note receivable and credit cash B. Debit cash and credit note receivable C: debit note receivable and credit service revenue D. Debit cash and credit note payable
Emporium bank lends money to a customer on a six month note. What journal entry does the bank prepare? A. Debit note receivable and credit cash B. Debit cash and credit note receivable C: debit note receivable and credit service revenue D. Debit cash and credit note payable
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 4QY: What is the journal entry to record an NSF check, from J. Smith for 250, that is returned with the...
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Emporium bank lends money to a customer on a six month note. What journal entry does the bank prepare?
A. Debit note receivable and credit cash
B. Debit cash and credit note receivable
C: debit note receivable and credit service revenue
D. Debit cash and credit note payable
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