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

question 102

Multiple Choice

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

• 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 Cash $4,920;credit Interest Revenue $120;credit Notes Receivable $4,800.

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Definitions:

Membranous Urethra

The portion of the urethra that passes through the urogenital diaphragm, extending from the prostatic urethra to the spongy urethra.

Pelvic Cavity

A body cavity that is bounded by the bones of the pelvis and contains reproductive organs, the urinary bladder, and the rectum.

Corpora Cavernosa

Paired erectile tissues in the penis or clitoris that fill with blood during sexual arousal, leading to erection.

Scrotum

The pouch of skin containing the testicles in male mammals.