DonCo, Inc. sold merchandise on January 14, and accepted a 90-day, 5% promissory note in the amount of $5,000. On January 14, the entry to record this transaction would include a debit to:Multiple choice question.Cash in the amount of $5,000Notes Receivable in the amount of $5,000Accounts Receivable in the amount of $5,000Sales in the amount of $5,000

Select all that applyOn November 1, Eli Co. received a $6,000, 60-day, 6% note from a customer as payment on his $6,000 overdue account. Eli's journal entry to record this transaction on November 1, would include a:Multiple select question.debit to Accounts Receivable for $6,060.credit to Accounts Receivable for $6,000.credit to Notes Receivable for $6,060.debit to Notes Receivable for $6,000.

On January 1, JC Co. accepted a 60-day, 6%, note in the amount of $10,000 from a customer. On March 2, the due date of the note, the customer honors the note and pays in full. The journal entry that JC would make to record the receipt of payment of this note would include a debit to:Multiple choice question.Notes Receivable in the amount of $10,000Cash in the amount of $10,000Notes Receivable in the amount of $10,100Cash in the amount of $10,100

On September 1, Horn Co. accepted a 60-day, 5% note in the amount of $3,000 from a customer. On the due date of the note, the customer dishonors the note and fails to pay. The journal entry that Horn would make on the due date would include debit to:Multiple choice question.Cash for $3,150Cash for $3,000Accounts Receivable for $3,025Accounts Receivable for $3,150Accounts Receivable for $3,000Cash for $3,025

Select all that applyOn January 1, Franz Co. accepted a 30-day, 6% note in the amount of $5,000 from Bria Co., a customer. On January 31, the due date of the note, Bria honors the note and pays in full. The journal entry that Franz would make to record payment of this note would include a:Multiple select question.debit to Cash for $5,025.debit to Interest Revenue for $25.credit to Note Receivable for $5,025.credit to Interest Revenue for $25.credit to Note Receivable for $5,000.

On March 14, Ian Co. accepted a 180-day, 5% note in the amount of $1,000 from Ali Co., a customer. On the due date of the note, Ali dishonors the note. The journal entry that Ian would record on the due date would include a:Multiple select question.credit to Notes Receivable for $1,000.debit to Interest Revenue for $25.debit to Notes Receivable for $1,025.debit to Accounts Receivable - Ali for $1,025.credit to Interest Revenue for $25.credit to Accounts Receivable - Ali for $1,000.