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Nikitich [7]
3 years ago
14

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 for $81,000; credit Cash $81,000. Debit Accounts Receivable $81,000; credit Notes Receivable $81,000. Debit Cash $81,000; credit Notes Receivable for $81,000. Debit Notes Payable $81,000; credit Accounts Payable $81,000.
Business
1 answer:
Serhud [2]3 years ago
4 0

Answer: Debit Notes Receivable for $81,000; credit Cash $81,000

Explanation:

Note receivables are used to record promissory notes that is, when a party agrees to pay cash to another party before a particular date.

Since Jasper makes a $81,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction would be to Debit Notes Receivable for $81,000 and credit Cash $81,000.

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Answer:

1-True

2-False

3-True

4-False

5-True

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Explanation:

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learn more about Volume here.  brainly.com/question/1972490

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