Ask Question
5 January, 00:10

Giorgio Italian Market bought $11,400 worth of merchandise from Food Suppliers and signed a 150-day, 8% promissory note for the $11,400. Food Suppliers journal entry to record the sales transaction is:

+4
Answers (1)
  1. 5 January, 02:52
    0
    Debit Notes Receivable $ 11,400; Credit Sales $ 11,400

    Explanation:

    The sales revenue is the amount of merchandise sold which is for $ 11,400 and Also, the receivable is $ 11,400 and hence recorded as notes receivable.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Giorgio Italian Market bought $11,400 worth of merchandise from Food Suppliers and signed a 150-day, 8% promissory note for the $11,400. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers