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Volley Spa purchased $10,100 in plumbing components from Tubman Co Valley Spa signed a 60-day,...

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Accounting

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Volley Spa purchased $10,100 in plumbing components from Tubman Co Valley Spa signed a 60-day, 12% promissory note for $10,100. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (Use 360 days a year.) Multiple Choice Debit Accounts Receivable $10,302, debit Bed Debt Expense $202, credit Notes Receivable $10,100, Debit Bed Debt Expense $10,302; credit Accounts Receivable $10,302. O Debit Bad Debt Expense $10,000 credit Notes Receivable $10,100. Debit Accounts Receivable - Volley Spa $10,100; credit Notes Receivable $10,00, Debit Accounts Receivable-Valley Spa $10,302, credit interest Revenue $202: credit Notes Receivable $10,100

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