Uniform Supply Accepted a $4,800,90-Day,10% Note from Tracy Janitorial on October

question 26

Multiple Choice

Uniform Supply accepted a $4,800,90-day,10% note from Tracy Janitorial on October 17.If the note is dishonored,what entry should Uniform Supply make on January 15 of the next year?

• A)Debit Notes Receivable $4,800;debit Interest Receivable $120;credit Sales $4,920.
• B)Debit Cash $4,920;credit Notes Receivable $4,920.
• C)Debit Cash $4,920;credit Interest Revenue $100;credit Interest Receivable $20,credit Notes Receivable $4,800.
• D)Debit Cash $4,920;credit Interest Revenue $20;credit Interest Receivable $100,credit Notes Receivable $4,800.
• E)Debit Accounts Receivable $4,920;credit Interest Revenue $20;credit Interest Receivable $100,credit Notes Receivable $4,800.

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Definitions:

Sleep Patterns

Describes the habitual resting and activity cycles or rhythms that determine when a person sleeps and wakes.

Bedtime Rituals

Established routines or series of actions performed before going to bed, often to improve sleep quality.

Sleep Lightly

Experiencing shallow or less intense sleep phases, which can result in easier awakenings and potential disruptions in the sleep cycle.

Organized Sports

Structured physical activity, typically team-based, governed by rules, and organized through institutions or leagues.