Accompanying the bank statement was a credit memo for a short-term note collected by the...
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Accounting
| Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the customer. What entry is required in the company's accounts? | |||||||||
| A. | Dr. Cash | ||||||||
| Cr. Miscellaneous Income | |||||||||
| B. | Dr. Accounts Receivable | ||||||||
| Cr. Cash | |||||||||
| C. | Dr. Cash | ||||||||
| Cr. Notes Receivable | |||||||||
| Cr. Interest Revenue | |||||||||
| D. | Dr. Notes Receivable | ||||||||
| Cr. Cash | |||||||||
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