Q 8.20: foti co. accepts a $1,000, 3-month, 12% promissory note in settlement of an account with bartelt co. the entry to record this transaction is as follows:
foti co. accepts a $1,000, 3-month, 12% promissory note in settlement of an account with bartelt co. the entry to record this transaction is as follows:Notes receivable -1000. Accounts Receivable -1000 if 12% promissory note in settlement of an account with bartelt co
