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Svetlanka [38]
2 years ago
5

Demonstrate the required adjusting entry needed to record a $1,000 note receivable collected by the bank by choosing the correct

entry below. Debit Cash $1,000 and credit Accounts Receivable $1,000. Debit Cash $1,000 and credit Notes Receivable $1,000. Debit Notes Receivable $1,000 and credit Cash $1,000. Debit Cash $1,000 and credit Notes Payable $1,000.
Business
1 answer:
MrRissso [65]2 years ago
5 0

Answer:

Debit Cash $1,000 and credit Notes Receivable $1,000.

Explanation:

The adjusting entry is shown below:

Cash Dr $1,000

    To Notes receivable $1,000

(Being the note receivable collected by the bank is recorded)    

While recording the transaction, we debited the cash account as it increases the cash balance and credited the note receivable.

Hence, the second option is correct

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Explanation:

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Regardless of how each country operate politically, most of the operational system of these countries are embedded in democracy and the general welfare of its citizens. The differences occur because of these operational systems of each country. They could differ in policies, reforms or laws which are based on the interests of its people and the nation.

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