Electron Borrowed $75,000 Cash from TechCom by Signing a Promissory

question 139

Multiple Choice

Electron borrowed $75,000 cash from TechCom by signing a promissory note. TechCom's entry to record the transaction should include a:

• A) Debit to Notes Receivable for $75,000.
• B) Debit to Accounts Receivable for $75,000.
• C) Credit to Notes Receivable for $75,000.
• D) Debit Notes Payable for $75,000.
• E) Credit to Sales for $75,000.

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Definitions:

Pay-As-You-Go

A payment model where clients only pay for the services or resources they use rather than a fixed subscription fee.

Capital Markets

Financial markets where long-term debt or equity-backed securities are bought and sold, facilitating the transfer of wealth and the allocation of resources.

Social Entrepreneurs

Individuals who pursue innovative solutions to social problems with the goal of creating social value rather than focusing on profit.

Traditional Nonprofits

Organizations that operate for the benefit of the public or a specific group of individuals, without seeking to generate profits for owners or shareholders.