Jax Recording Studio purchased $6,000 in electronic components from Music World. Jax signed a 60-day,...
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Accounting
Jax Recording Studio purchased $6,000 in electronic components from Music World. Jax signed a 60-day, 12% promissory note for $6,000. Music World's journal entry to record the sales transaction is:
A)Debit Notes Receivable $6,120; credit Sales $6,120 B)Debit Notes Receivable $6,120; debit Interest Receivable $120; credit Sales $6,000 C)Debit Accounts Receivable $6,000; credit Sales $6,000 D)Debit Notes Receivable $6,000; credit Sales $6,000 E)Debit Accounts Receivable $6,120; credit Sales $6,120
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