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    bokuwa's Avatar
    bokuwa Posts: 1, Reputation: 1
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    #1

    Nov 19, 2015, 07:28 AM
    What is the journal entry (debit, credit) for this problem?
    What is the journal entry (debit, credit) for this problem "Collected a $9,600 60-day 10% note from a credit customer to settle account"?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Nov 19, 2015, 08:51 AM
    Your accounts will be Notes Receivable and Accounts Receivable. The credit customer exchanged an account receivable to a note receivable.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #3

    Nov 19, 2015, 02:13 PM
    If you "collected" then cash is involved
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