Teller Purchased Merchandise from TechCom on October 17 of the Current

question 38

Multiple Choice

Teller purchased merchandise from TechCom on October 17 of the current year and TechCom accepted Teller's $4,800, 90-day, 10% note. If the note is dishonored, what entry should TechCom 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:

Drug Therapy

The treatment of disease or symptoms with pharmaceutical drugs.

Cognitive-behavior Therapy

A type of psychotherapeutic treatment that helps patients understand the thoughts and feelings that influence behaviors.

Self-efficacy

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments.

Insight

The ability to understand the inner nature of things or to gain a clear or deep perception of a complicated problem or situation.