The Journal Entry to Record a Note Received from a Customer

question 32

Multiple Choice

The journal entry to record a note received from a customer to apply on account is

• A) debit Notes Receivable; credit Accounts Receivable
• B) debit Accounts Receivable; credit Notes Receivable
• C) debit Cash; credit Notes Receivable
• D) debit Notes Receivable; credit Notes Payable

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Definitions:

Chamber of Commerce

An association of business owners and professionals aimed at promoting and protecting the interests of its members within a community.

Clergy

Ordained leaders of a religious faith, responsible for overseeing religious services and providing spiritual guidance.

Center of Influence

An individual or entity that possesses significant sway or authority within a community, often used in marketing to access broader networks.

Day Care Center

A facility that offers care and educational activities for young children during the day while their guardians are at work or otherwise engaged.