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Jasper makes a $81,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record...

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Question

Accounting

Jasper makes a $81,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be:

Multiple Choice

  • Debit Notes Receivable $81,000; credit Sales $81,000.

  • Debit Notes Payable $81,000; credit Accounts Payable $81,000.

  • Debit Accounts Receivable $81,000; credit Notes Receivable $81,000.

  • Debit Notes Receivable for $81,000; credit Cash $81,000.

  • Debit Cash $81,000; credit Notes Receivable for $81,000.

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