journal entry worksheet\n1 2 3\naccepted a $15,000, 180 - day, 8% note from kelly white in granting a time…
journal entry worksheet\n1 2 3\naccepted a $15,000, 180 - day, 8% note from kelly white in granting a time extension on her past - due account receivable.\nnote: enter debits before credits.\ndate general journal debit credit\nnovember 01
Answer
Explanation:
Step1: Identify accounts affected
The company accepts a note receivable and reduces the accounts - receivable.
Step2: Determine debit and credit
Debit the Note Receivable account as an asset is increasing, and credit the Accounts Receivable account as an asset is decreasing.
Answer:
| Date | General Journal | Debit | Credit |
|---|---|---|---|
| November 01 | Note Receivable | 15000 | |
| Accounts Receivable | 15000 |