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Giorgio Italian Market bought $7,600 worth of merchandise from Food Suppliers and signed a 75-day,...

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Accounting

Giorgio Italian Market bought $7,600 worth of merchandise from Food Suppliers and signed a 75-day, 6% promissory note for the $7,600. Food Supplier's journal entry to record the sales transaction is:

Multiple Choice

  • Debit Notes Receivable $7,600; credit Sales $7,600.

  • Debit Notes Receivable $7,600; debit Interest Receivable $95; credit Sales $7,695.

  • Debit Accounts Receivable $7,695; credit Sales $7,695.
  • Debit Accounts Receivable $7,600; credit Sales $7,600.
  • Debit Notes Receivable $7,695; credit Sales $7,695.
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