Installment note and Notes Payable when debited for $4000 and $9000 respectively, a credit in the cash for an amount of $13,000 must be made in the books of journal entry.
<h3>What is a journal entry?</h3>
A systematic manner of recording financial transactions of a business organization in the chronological order of their occurrence during a given financial period is known as a journal entry.
Each journal entry has a credit and a debit effect. The amount that is reflected in the debit column must match the amounts that are credited.
So, when the journal entry with a debit of $4000+$9000=$13,000 is made, a credit effect of the same in cash will be $13,000.
Hence, the effect of journal entry is given as above.
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