On January 15, 2010, Raymond Company Received a Two-Month, 9

question 135

Multiple Choice

On January 15, 2010, Raymond Company received a two-month, 9%, $5,000 note from William Pentel for the settlement of his open account. The entry by Raymond Company on January 15, 2010 would include a:

• A) debit of $5,075 to Notes Receivable.
• B) debit of $5,000 to Notes Receivable.
• C) credit of $5,075 to Accounts Receivable.
• D) credit of $5,000 to Notes Receivable.

---

Definitions:

Legal Offer

A proposal by one party to another intended to create a legally binding agreement upon acceptance.

Transformation Processes

The operations or activities that convert inputs into outputs, adding value in manufacturing or service provision.

Operations Management

The administration of business practices to create the highest level of efficiency possible within an organization.

Quality

How well a good or service meets or exceeds customers’ expectations, or the degree to which a product conforms to established tolerance standards.